Cara Therapeutics Inc (CARA) Stake Lessened by C WorldWide Group Holding A S

C WorldWide Group Holding A S cut its holdings in shares of Cara Therapeutics Inc (NASDAQ:CARA) by 14.7% during the third quarter, HoldingsChannel reports. The firm owned 247,429 shares of the biopharmaceutical company’s stock after selling 42,521 shares during the period. C WorldWide Group Holding A S’s holdings in Cara Therapeutics were worth $5,926,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of Cara Therapeutics by 9.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 59,335 shares of the biopharmaceutical company’s stock valued at $1,137,000 after acquiring an additional 5,000 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Cara Therapeutics by 27.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 26,452 shares of the biopharmaceutical company’s stock valued at $634,000 after acquiring an additional 5,646 shares during the period. Cornerstone Wealth Management LLC increased its position in shares of Cara Therapeutics by 44.0% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 20,392 shares of the biopharmaceutical company’s stock valued at $1,515,000 after acquiring an additional 6,228 shares during the period. Exane Derivatives acquired a new position in shares of Cara Therapeutics in the 2nd quarter valued at $138,000. Finally, State of Wisconsin Investment Board increased its position in shares of Cara Therapeutics by 38.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 27,600 shares of the biopharmaceutical company’s stock valued at $529,000 after acquiring an additional 7,600 shares during the period. 48.88% of the stock is currently owned by institutional investors and hedge funds.

In other Cara Therapeutics news, SVP Frederique Ph.D. Menzaghi sold 3,000 shares of the company’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $18.77, for a total value of $56,310.00. Following the sale, the senior vice president now directly owns 145,000 shares of the company’s stock, valued at $2,721,650. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mani Mohindru sold 16,042 shares of the company’s stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $20.19, for a total transaction of $323,887.98. Following the completion of the sale, the chief financial officer now directly owns 16,042 shares in the company, valued at $323,887.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,484 shares of company stock worth $2,044,195. 6.70% of the stock is owned by corporate insiders.

NASDAQ:CARA opened at $19.72 on Wednesday. Cara Therapeutics Inc has a one year low of $11.46 and a one year high of $24.30. The firm has a market capitalization of $773.63 million, a price-to-earnings ratio of -10.60 and a beta of 2.92.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.02). The business had revenue of $2.87 million for the quarter, compared to the consensus estimate of $0.63 million. As a group, equities research analysts anticipate that Cara Therapeutics Inc will post -2.01 EPS for the current year.

CARA has been the topic of several research reports. Zacks Investment Research downgraded Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Cantor Fitzgerald initiated coverage on Cara Therapeutics in a research report on Friday, September 21st. They issued an “overweight” rating and a $27.00 target price on the stock. Jefferies Financial Group initiated coverage on Cara Therapeutics in a research report on Thursday, September 13th. They issued a “buy” rating and a $30.00 target price on the stock. BidaskClub raised Cara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 31st. Finally, Canaccord Genuity upped their target price on Cara Therapeutics from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Cara Therapeutics has an average rating of “Buy” and a consensus price target of $25.83.

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Cara Therapeutics Profile

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.

See Also: Return on Investment (ROI)

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

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