GRT Capital Partners L.L.C. Holds Position in Cara Therapeutics, Inc. (CARA)
GRT Capital Partners L.L.C. held its stake in Cara Therapeutics, Inc. (NASDAQ:CARA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 52,937 shares of the biopharmaceutical company’s stock at the close of the 2nd quarter. GRT Capital Partners L.L.C. owned 0.16% of Cara Therapeutics worth $815,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Private Advisor Group LLC increased its holdings in Cara Therapeutics by 120.5% in the first quarter. Private Advisor Group LLC now owns 23,737 shares of the biopharmaceutical company’s stock worth $417,000 after purchasing an additional 12,970 shares in the last quarter. KCG Holdings Inc. bought a new stake in Cara Therapeutics in the first quarter worth approximately $673,000. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 156,958 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in Cara Therapeutics in the first quarter worth approximately $5,251,000. Finally, Driehaus Capital Management LLC bought a new stake in Cara Therapeutics in the first quarter worth approximately $750,000. Institutional investors and hedge funds own 61.13% of the company’s stock.
CARA has been the subject of a number of research analyst reports. Vetr upgraded Cara Therapeutics from a “buy” rating to a “strong-buy” rating and set a $22.99 target price for the company in a report on Tuesday, July 4th. Zacks Investment Research upgraded Cara Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Wednesday, August 30th. Stifel Nicolaus reiterated a “buy” rating and issued a $20.00 target price (down from $24.00) on shares of Cara Therapeutics in a report on Friday, June 23rd. BidaskClub downgraded Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of Cara Therapeutics in a report on Friday, August 4th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Cara Therapeutics currently has a consensus rating of “Buy” and an average target price of $25.50.
Cara Therapeutics, Inc. (NASDAQ:CARA) traded down 0.81% during midday trading on Wednesday, hitting $13.55. The stock had a trading volume of 236,668 shares. The company’s market cap is $441.47 million. Cara Therapeutics, Inc. has a 12 month low of $5.80 and a 12 month high of $28.50. The firm’s 50-day moving average price is $13.84 and its 200 day moving average price is $16.21.
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 the consensus estimate of ($0.61) by $0.32. During the same period in the prior year, the business posted ($0.48) earnings per share. The business’s quarterly revenue was down 100.0% on a year-over-year basis. On average, analysts expect that Cara Therapeutics, Inc. will post ($1.78) earnings per share for the current fiscal year.
In other news, VP Frederique Ph.D. Menzaghi sold 3,000 shares of the stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $15.00, for a total value of $45,000.00. Following the completion of the transaction, the vice president now owns 120,000 shares of the company’s stock, valued at approximately $1,800,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dean Slagel sold 250,000 shares of the stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $25.87, for a total value of $6,467,500.00. The disclosure for this sale can be found here. Insiders sold a total of 278,000 shares of company stock valued at $6,888,750 in the last three months. Corporate insiders own 7.50% of the company’s stock.
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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