Stock Traders Purchase High Volume of Cara Therapeutics Call Options (CARA)
Cara Therapeutics Inc (NASDAQ:CARA) saw unusually large options trading on Thursday. Stock traders bought 8,141 call options on the company. This is an increase of approximately 1,460% compared to the average volume of 522 call options.
Cara Therapeutics (NASDAQ CARA) opened at $15.11 on Friday. The firm has a market capitalization of $492.71, a P/E ratio of -6.60 and a beta of 2.96. Cara Therapeutics has a one year low of $11.11 and a one year high of $28.50.
Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). During the same quarter in the previous year, the company posted ($0.42) earnings per share. equities analysts forecast that Cara Therapeutics will post -1.85 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the business. Courier Capital LLC bought a new position in Cara Therapeutics in the fourth quarter valued at approximately $147,000. Rothschild Investment Corp IL bought a new position in Cara Therapeutics in the fourth quarter valued at approximately $175,000. First Manhattan Co. bought a new position in Cara Therapeutics in the fourth quarter valued at approximately $1,248,000. Fox Run Management L.L.C. bought a new position in Cara Therapeutics in the fourth quarter valued at approximately $157,000. Finally, Schwab Charles Investment Management Inc. grew its stake in Cara Therapeutics by 38.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 54,335 shares of the biopharmaceutical company’s stock valued at $666,000 after purchasing an additional 15,218 shares in the last quarter. Hedge funds and other institutional investors own 58.68% of the company’s stock.
A number of equities research analysts recently issued reports on CARA shares. CIBC dropped their target price on Cara Therapeutics from $26.00 to $24.00 in a research report on Tuesday, November 7th. Seaport Global Securities started coverage on Cara Therapeutics in a research report on Friday, January 19th. They issued a “buy” rating and a $27.00 target price on the stock. Canaccord Genuity set a $25.00 target price on Cara Therapeutics and gave the company a “buy” rating in a research report on Monday, November 20th. Stifel Nicolaus reissued a “buy” rating and issued a $17.00 target price on shares of Cara Therapeutics in a research report on Wednesday, January 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Cara Therapeutics in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $25.09.
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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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