New York State Common Retirement Fund lifted its holdings in Cara Therapeutics, Inc. (NASDAQ:CARA) by 20.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,100 shares of the biopharmaceutical company’s stock after acquiring an additional 5,099 shares during the quarter. New York State Common Retirement Fund owned 0.09% of Cara Therapeutics worth $463,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in shares of Cara Therapeutics by 10.4% in the second quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock worth $118,000 after acquiring an additional 678 shares during the period. American International Group Inc. increased its stake in shares of Cara Therapeutics by 7.1% in the first quarter. American International Group Inc. now owns 12,937 shares of the biopharmaceutical company’s stock worth $238,000 after acquiring an additional 857 shares during the period. UBS Group AG increased its stake in shares of Cara Therapeutics by 16.9% in the first quarter. UBS Group AG now owns 10,544 shares of the biopharmaceutical company’s stock worth $194,000 after acquiring an additional 1,528 shares during the period. Rhumbline Advisers increased its stake in shares of Cara Therapeutics by 16.7% in the second quarter. Rhumbline Advisers now owns 30,537 shares of the biopharmaceutical company’s stock worth $470,000 after acquiring an additional 4,375 shares during the period. Finally, Teachers Advisors LLC grew its position in Cara Therapeutics by 18.1% during the first quarter. Teachers Advisors LLC now owns 39,418 shares of the biopharmaceutical company’s stock valued at $725,000 after buying an additional 6,028 shares during the period. Hedge funds and other institutional investors own 61.03% of the company’s stock.

Shares of Cara Therapeutics, Inc. (NASDAQ CARA) opened at $12.93 on Tuesday. Cara Therapeutics, Inc. has a 52-week low of $8.61 and a 52-week high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.03). During the same quarter last year, the business posted ($0.42) EPS. sell-side analysts forecast that Cara Therapeutics, Inc. will post -1.84 earnings per share for the current fiscal year.

In other news, CEO Derek T. Chalmers sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $12.66, for a total value of $202,560.00. Following the transaction, the chief executive officer now directly owns 1,066,292 shares of the company’s stock, valued at $13,499,256.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.50% of the company’s stock.

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Several analysts recently commented on CARA shares. CIBC dropped their price target on shares of Cara Therapeutics from $26.00 to $24.00 in a research report on Tuesday, November 7th. Zacks Investment Research upgraded shares of Cara Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, August 30th. Piper Jaffray Companies set a $27.00 price target on shares of Cara Therapeutics and gave the company a “buy” rating in a research report on Saturday, August 5th. Canaccord Genuity set a $25.00 price target on shares of Cara Therapeutics and gave the company a “buy” rating in a research report on Saturday, August 5th. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Cara Therapeutics in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.17.

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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Institutional Ownership by Quarter for Cara Therapeutics (NASDAQ:CARA)

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