Cara Therapeutics (NASDAQ:CARA) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Cara Therapeutics (NASDAQ:CARA – Get Rating) in a report published on Thursday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently issued reports on CARA. Needham & Company LLC decreased their price objective on shares of Cara Therapeutics from $26.00 to $22.00 and set a buy rating for the company in a research report on Tuesday, March 7th. Canaccord Genuity Group reduced their price target on shares of Cara Therapeutics from $29.00 to $25.00 and set a buy rating for the company in a research report on Tuesday, March 7th. JPMorgan Chase & Co. dropped their price objective on shares of Cara Therapeutics from $19.00 to $16.00 and set an overweight rating on the stock in a research note on Tuesday, March 7th. Piper Sandler dropped their price objective on shares of Cara Therapeutics from $25.00 to $13.00 and set an overweight rating on the stock in a research note on Tuesday, March 7th. Finally, Bank of America lowered shares of Cara Therapeutics from a neutral rating to an underperform rating and dropped their price objective for the company from $13.00 to $6.00 in a research note on Tuesday, March 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $17.00.

Cara Therapeutics Stock Down 5.2 %

Cara Therapeutics stock opened at $5.48 on Thursday. The company has a fifty day simple moving average of $10.07 and a 200-day simple moving average of $10.30. Cara Therapeutics has a 12-month low of $5.37 and a 12-month high of $13.97.

Insider Buying and Selling at Cara Therapeutics

In related news, CEO Christopher Posner sold 4,191 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $11.80, for a total transaction of $49,453.80. Following the transaction, the chief executive officer now owns 182,370 shares of the company’s stock, valued at $2,151,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Christopher Posner sold 4,191 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $11.80, for a total transaction of $49,453.80. Following the transaction, the chief executive officer now owns 182,370 shares of the company’s stock, valued at $2,151,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Frederique Ph.D. Menzaghi sold 3,506 shares of Cara Therapeutics stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $11.27, for a total transaction of $39,512.62. Following the completion of the transaction, the senior vice president now owns 166,275 shares in the company, valued at approximately $1,873,919.25. The disclosure for this sale can be found here. Insiders have sold 12,954 shares of company stock valued at $147,171 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Cara Therapeutics

A number of institutional investors have recently added to or reduced their stakes in CARA. Mutual of America Capital Management LLC boosted its holdings in Cara Therapeutics by 17.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 7,111 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 1,078 shares during the period. Federated Hermes Inc. lifted its stake in shares of Cara Therapeutics by 27.7% in the first quarter. Federated Hermes Inc. now owns 6,009 shares of the biopharmaceutical company’s stock worth $73,000 after acquiring an additional 1,302 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cara Therapeutics by 29.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,610 shares of the biopharmaceutical company’s stock worth $82,000 after acquiring an additional 1,724 shares in the last quarter. Cetera Advisor Networks LLC acquired a new position in shares of Cara Therapeutics in the second quarter worth about $93,000. Finally, Rafferty Asset Management LLC acquired a new position in shares of Cara Therapeutics in the second quarter worth about $97,000. 69.26% of the stock is owned by hedge funds and other institutional investors.

Cara Therapeutics Company Profile

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CARA Therapeutics, Inc is a clinical-stage biopharmaceutical company, which focuses on developing and commercializing new chemical entities designed to alleviate pruritus by selectively targeting peripheral kappa opioid receptors (KORs). Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain.