Cara Therapeutics Target of Unusually Large Options Trading (CARA)
Cara Therapeutics Inc (NASDAQ:CARA) saw some unusual options trading activity on Thursday. Stock investors bought 1,753 call options on the stock. This represents an increase of approximately 808% compared to the typical daily volume of 193 call options.
Shares of Cara Therapeutics (NASDAQ CARA) opened at $13.54 on Friday. Cara Therapeutics has a twelve month low of $8.62 and a twelve month high of $28.50.
Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.03). During the same period in the previous year, the company earned ($0.42) earnings per share. sell-side analysts predict that Cara Therapeutics will post -1.84 EPS for the current year.
In other news, CEO Derek T. Chalmers sold 16,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $12.66, for a total value of $202,560.00. Following the sale, the chief executive officer now owns 1,066,292 shares in the company, valued at approximately $13,499,256.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the business. Legal & General Group Plc raised its holdings in Cara Therapeutics by 10.4% during the 2nd quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 678 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Cara Therapeutics by 15.4% in the 2nd quarter. Voya Investment Management LLC now owns 12,316 shares of the biopharmaceutical company’s stock valued at $190,000 after acquiring an additional 1,646 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Cara Therapeutics by 18.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,280 shares of the biopharmaceutical company’s stock valued at $328,000 after acquiring an additional 3,353 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Cara Therapeutics by 25.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 21,365 shares of the biopharmaceutical company’s stock valued at $292,000 after acquiring an additional 4,275 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Cara Therapeutics by 16.7% in the 2nd quarter. Rhumbline Advisers now owns 30,537 shares of the biopharmaceutical company’s stock valued at $470,000 after acquiring an additional 4,375 shares during the last quarter. 58.80% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on CARA. CIBC cut their price target on Cara Therapeutics from $26.00 to $24.00 in a report on Tuesday, November 7th. Canaccord Genuity set a $25.00 price target on Cara Therapeutics and gave the company a “buy” rating in a report on Monday, November 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $23.00 price target on shares of Cara Therapeutics in a report on Wednesday, October 4th. Zacks Investment Research raised Cara Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Wednesday, August 30th. Finally, BidaskClub raised Cara Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $25.17.
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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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