Cara Therapeutics, Inc. (CARA) Position Lowered by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP cut its position in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 207,950 shares of the biopharmaceutical company’s stock after selling 21,676 shares during the period. Dimensional Fund Advisors LP owned 0.76% of Cara Therapeutics worth $3,824,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. RHO Capital Partners Inc. increased its position in shares of 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 last quarter. Vanguard Group Inc. increased its position in shares of Cara Therapeutics by 20.0% in the first quarter. Vanguard Group Inc. now owns 943,627 shares of the biopharmaceutical company’s stock worth $17,353,000 after buying an additional 156,958 shares during the last quarter. FMR LLC increased its position in shares of Cara Therapeutics by 931.6% in the first quarter. FMR LLC now owns 938,776 shares of the biopharmaceutical company’s stock worth $17,264,000 after buying an additional 847,777 shares during the last quarter. State Street Corp increased its position in shares of Cara Therapeutics by 7.1% in the fourth quarter. State Street Corp now owns 348,531 shares of the biopharmaceutical company’s stock worth $3,244,000 after buying an additional 23,222 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Cara Therapeutics during the first quarter worth $5,517,000. 61.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) traded down 0.6914% on Tuesday, reaching $12.7413. The company’s stock had a trading volume of 220,902 shares. The firm’s market cap is $415.12 million. The company’s 50 day moving average is $14.06 and its 200-day moving average is $16.29. Cara Therapeutics, Inc. has a 1-year low of $5.27 and a 1-year high of $28.50.
Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.32. During the same period in the previous year, the company posted ($0.48) earnings per share. The business’s revenue was down 100.0% compared to the same quarter last year. Equities research analysts expect that Cara Therapeutics, Inc. will post ($1.78) EPS for the current year.
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CARA has been the topic of a number of recent analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $20.00 price objective (down from $24.00) on shares of Cara Therapeutics in a research note on Friday, June 30th. Laidlaw cut their price objective on Cara Therapeutics from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, June 30th. Canaccord Genuity reissued a “buy” rating and issued a $25.00 price objective on shares of Cara Therapeutics in a research note on Wednesday, May 17th. Janney Montgomery Scott downgraded Cara Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $21.00 in a research note on Friday, June 30th. Finally, Royal Bank Of Canada cut their price objective on Cara Therapeutics from $32.00 to $31.00 and set an “outperform” rating on the stock in a research note on Monday, May 15th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Cara Therapeutics presently has a consensus rating of “Buy” and an average target price of $25.18.
In related news, VP Frederique Ph.D. Menzaghi sold 3,000 shares of Cara Therapeutics stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the sale, the vice president now owns 120,000 shares of the company’s stock, valued at approximately $1,800,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Derek T. Chalmers sold 25,000 shares of Cara Therapeutics stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $15.05, for a total transaction of $376,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,107,292 shares in the company, valued at approximately $16,664,744.60. The disclosure for this sale can be found here. Insiders sold a total of 278,000 shares of company stock worth $6,888,750 in the last ninety days. 7.50% of the stock is currently owned by insiders.
About Cara Therapeutics
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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