Several other analysts also recently weighed in on CARA. Zacks Investment Research downgraded Cara Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 target price on shares of Cara Therapeutics in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Cara Therapeutics in a research report on Tuesday. Finally, ValuEngine upgraded Cara Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.93.
Cara Therapeutics stock opened at $16.94 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.21 and a quick ratio of 4.21. Cara Therapeutics has a fifty-two week low of $12.19 and a fifty-two week high of $27.55. The firm has a fifty day moving average price of $21.49 and a two-hundred day moving average price of $21.62. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of -8.22 and a beta of 2.30.
In related news, CEO Derek T. Chalmers sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $20.79, for a total transaction of $103,950.00. Following the transaction, the chief executive officer now directly owns 928,468 shares in the company, valued at $19,302,849.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Derek T. Chalmers sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $18.28, for a total value of $182,800.00. Following the completion of the transaction, the chief executive officer now directly owns 933,468 shares of the company’s stock, valued at approximately $17,063,795.04. The disclosure for this sale can be found here. Insiders have sold 36,000 shares of company stock valued at $692,495 in the last ninety days. 5.80% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in CARA. Metropolitan Life Insurance Co NY grew its holdings in shares of Cara Therapeutics by 16.2% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,220 shares of the biopharmaceutical company’s stock worth $242,000 after purchasing an additional 1,846 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Cara Therapeutics in the third quarter valued at $190,000. Barclays PLC raised its stake in shares of Cara Therapeutics by 91.6% in the third quarter. Barclays PLC now owns 58,527 shares of the biopharmaceutical company’s stock valued at $1,070,000 after purchasing an additional 27,977 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Cara Therapeutics in the third quarter valued at $2,780,000. Finally, Penserra Capital Management LLC bought a new position in Cara Therapeutics in the third quarter worth $180,000. Institutional investors own 76.08% of the company’s stock.
About Cara Therapeutics
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities with a primary focus on pruritus and pain by selectively targeting kappa opioid receptors in the United States. The company is developing product candidates that target the body's peripheral nervous system and immune cells.
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