Marshall Wace LLP Purchases New Stake in Cara Therapeutics Inc (CARA)

Marshall Wace LLP purchased a new stake in Cara Therapeutics Inc (NASDAQ:CARA) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 348,926 shares of the biopharmaceutical company’s stock, valued at approximately $6,682,000. Marshall Wace LLP owned approximately 0.89% of Cara Therapeutics at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Exane Derivatives acquired a new stake in Cara Therapeutics in the 2nd quarter valued at about $138,000. BB&T Securities LLC acquired a new stake in Cara Therapeutics in the 2nd quarter valued at about $218,000. Raymond James & Associates acquired a new stake in Cara Therapeutics in the 2nd quarter valued at about $250,000. DekaBank Deutsche Girozentrale acquired a new stake in Cara Therapeutics in the 1st quarter valued at about $164,000. Finally, Cornerstone Wealth Management LLC acquired a new stake in Cara Therapeutics in the 2nd quarter valued at about $715,000. 48.66% of the stock is currently owned by institutional investors.

In other Cara Therapeutics news, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of Cara Therapeutics stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $18.89, for a total value of $56,670.00. Following the transaction, the senior vice president now directly owns 101,000 shares in the company, valued at approximately $1,907,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Derek T. Chalmers sold 20,000 shares of Cara Therapeutics stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $23.79, for a total value of $475,800.00. The disclosure for this sale can be found here. Insiders sold a total of 49,000 shares of company stock worth $1,058,070 over the last quarter. Company insiders own 6.70% of the company’s stock.

A number of research analysts have recently commented on the company. Cantor Fitzgerald reiterated a “buy” rating and issued a $27.00 price objective on shares of Cara Therapeutics in a report on Thursday, October 4th. BidaskClub downgraded Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Jefferies Financial Group assumed coverage on Cara Therapeutics in a report on Thursday, September 13th. They issued a “buy” rating and a $30.00 price objective on the stock. Canaccord Genuity increased their price objective on Cara Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. Finally, Stifel Nicolaus increased their price objective on Cara Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $26.27.

NASDAQ:CARA opened at $20.20 on Tuesday. The company has a market cap of $941.01 million, a P/E ratio of -10.86 and a beta of 2.88. Cara Therapeutics Inc has a 52-week low of $11.11 and a 52-week high of $24.30.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.02). The company had revenue of $2.87 million during the quarter, compared to analysts’ expectations of $0.63 million. As a group, analysts expect that Cara Therapeutics Inc will post -2.01 earnings per share for the current fiscal year.

About Cara Therapeutics

Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate 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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Institutional Ownership by Quarter for Cara Therapeutics (NASDAQ:CARA)

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