Alliancebernstein L.P. maintained its stake in Cara Therapeutics, Inc. (NASDAQ:CARA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,300 shares of the biopharmaceutical company’s stock at the end of the first quarter. Alliancebernstein L.P.’s holdings in Cara Therapeutics were worth $373,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Tiedemann Wealth Management LLC boosted its stake in Cara Therapeutics by 7.5% in the first quarter. Tiedemann Wealth Management LLC now owns 21,425 shares of the biopharmaceutical company’s stock worth $394,000 after buying an additional 1,500 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Cara Therapeutics by 71.4% in the first quarter. Parametric Portfolio Associates LLC now owns 98,962 shares of the biopharmaceutical company’s stock worth $1,820,000 after buying an additional 41,237 shares during the period. RHO Capital Partners Inc. boosted its stake in Cara Therapeutics by 16.3% in the first quarter. RHO Capital Partners Inc. now owns 3,568,057 shares of the biopharmaceutical company’s stock worth $65,617,000 after buying an additional 500,000 shares during the period. UBS Asset Management Americas Inc. bought a new stake in Cara Therapeutics during the first quarter worth approximately $5,251,000. Finally, Jennison Associates LLC bought a new stake in Cara Therapeutics during the first quarter worth approximately $5,517,000. Institutional investors own 52.75% of the company’s stock.

Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) traded up 0.79% during mid-day trading on Friday, reaching $13.96. 885,383 shares of the company’s stock traded hands. Cara Therapeutics, Inc. has a one year low of $5.27 and a one year high of $28.50. The firm’s market cap is $454.83 million. The firm’s 50-day moving average is $16.04 and its 200 day moving average is $16.39.

Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.32. Cara Therapeutics’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.48) EPS. Analysts predict that Cara Therapeutics, Inc. will post ($1.78) earnings per share for the current year.

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A number of analysts recently commented on the stock. Vetr upgraded shares of Cara Therapeutics from a “hold” rating to a “buy” rating and set a $27.58 target price for the company in a research note on Wednesday, June 28th. Janney Montgomery Scott reiterated a “buy” rating and issued a $22.00 target price on shares of Cara Therapeutics in a research note on Wednesday, June 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 target price (down from $24.00) on shares of Cara Therapeutics in a research note on Friday, June 30th. Laidlaw lowered their target price on shares of Cara Therapeutics from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, June 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $23.00 target price on shares of Cara Therapeutics in a research note on Wednesday, June 21st. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Cara Therapeutics currently has an average rating of “Buy” and a consensus price target of $25.18.

In other news, CEO Derek T. Chalmers sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $15.05, for a total transaction of $376,250.00. Following the transaction, the chief executive officer now directly owns 1,107,292 shares in the company, valued at $16,664,744.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Frederique Ph.D. Menzaghi sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the transaction, the vice president now owns 120,000 shares in the company, valued at $1,800,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 278,000 shares of company stock worth $6,888,750. Insiders own 7.70% of the company’s stock.

Cara Therapeutics Company Profile

Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. It is developing a class of product candidates that target the body’s peripheral nervous system.

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Institutional Ownership by Quarter for Cara Therapeutics (NASDAQ:CARA)

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