Cara Therapeutics Inc (NASDAQ:CARA) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 4,850,000 shares, a decline of 9.7% from the January 15th total of 5,370,000 shares. Currently, 11.4% of the company’s stock are sold short. Based on an average daily trading volume, of 729,500 shares, the days-to-cover ratio is presently 6.6 days.
In other Cara Therapeutics news, CEO Derek T. Chalmers sold 10,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $25.79, for a total value of $257,900.00. Following the transaction, the chief executive officer now owns 918,468 shares in the company, valued at approximately $23,687,289.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey L. Ives sold 2,500 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $25.83, for a total transaction of $64,575.00. Following the completion of the transaction, the director now owns 8,500 shares in the company, valued at approximately $219,555. The disclosure for this sale can be found here. Insiders sold a total of 44,434 shares of company stock worth $854,650 in the last quarter. 5.80% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of CARA. Bank of America Corp DE raised its stake in shares of Cara Therapeutics by 133.8% in the 4th quarter. Bank of America Corp DE now owns 421,581 shares of the biopharmaceutical company’s stock valued at $6,792,000 after purchasing an additional 241,271 shares in the last quarter. Cypress Capital Management LLC WY acquired a new stake in Cara Therapeutics during the fourth quarter worth about $2,966,000. Point72 Asset Management L.P. acquired a new stake in Cara Therapeutics during the third quarter worth about $2,780,000. Farallon Capital Management LLC raised its stake in Cara Therapeutics by 7.0% during the fourth quarter. Farallon Capital Management LLC now owns 2,300,000 shares of the biopharmaceutical company’s stock worth $37,053,000 after acquiring an additional 150,000 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in Cara Therapeutics during the second quarter worth about $2,798,000. Institutional investors and hedge funds own 76.42% of the company’s stock.
A number of equities analysts have commented on CARA shares. ValuEngine lowered shares of Cara Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 11th. Zacks Investment Research upgraded shares of Cara Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and issued a $35.00 target price on shares of Cara Therapeutics in a research note on Tuesday, December 3rd. BidaskClub upgraded shares of Cara Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald upped their target price on shares of Cara Therapeutics from $29.00 to $33.00 in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $32.67.
Shares of Cara Therapeutics stock traded up $0.53 during trading on Friday, reaching $17.78. The company had a trading volume of 485,248 shares, compared to its average volume of 570,789. The company has a market cap of $711.70 million, a price-to-earnings ratio of -7.41 and a beta of 2.26. The firm’s fifty day moving average is $16.34 and its 200-day moving average is $19.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.21 and a current ratio of 4.21. Cara Therapeutics has a fifty-two week low of $14.77 and a fifty-two week high of $27.55.
Cara Therapeutics Company Profile
Cara Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities with a primary focus on 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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