Vanguard Group Inc. increased its holdings in Cara Therapeutics, Inc. (NASDAQ:CARA) by 17.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,107,874 shares of the biopharmaceutical company’s stock after buying an additional 164,247 shares during the period. Vanguard Group Inc. owned 3.41% of Cara Therapeutics worth $17,050,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Cara Therapeutics by 10.4% during the second quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 678 shares in the last quarter. American International Group Inc. raised its position in Cara Therapeutics by 7.1% during the first quarter. American International Group Inc. now owns 12,937 shares of the biopharmaceutical company’s stock valued at $238,000 after purchasing an additional 857 shares in the last quarter. UBS Group AG raised its position in Cara Therapeutics by 16.9% during the first quarter. UBS Group AG now owns 10,544 shares of the biopharmaceutical company’s stock valued at $194,000 after purchasing an additional 1,528 shares in the last quarter. Rhumbline Advisers raised its position in Cara Therapeutics by 16.7% during the second quarter. Rhumbline Advisers now owns 30,537 shares of the biopharmaceutical company’s stock valued at $470,000 after purchasing an additional 4,375 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Cara Therapeutics by 20.4% during the second quarter. New York State Common Retirement Fund now owns 30,100 shares of the biopharmaceutical company’s stock valued at $463,000 after purchasing an additional 5,099 shares in the last quarter. Institutional investors own 61.03% of the company’s stock.

Shares of Cara Therapeutics, Inc. (NASDAQ CARA) opened at $12.18 on Friday. Cara Therapeutics, Inc. has a fifty-two week low of $8.61 and a fifty-two week high of $28.50.

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

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Several research analysts have recently issued reports on the stock. Raymond James Financial, Inc. boosted their price objective on shares of Cara Therapeutics from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 7th. CIBC reduced their price objective on shares of Cara Therapeutics from $26.00 to $24.00 in a research note on Tuesday, November 7th. BMO Capital Markets reissued a “market perform” rating and issued a $25.00 price objective on shares of Cara Therapeutics in a research note on Tuesday, November 7th. Scotiabank boosted their price objective on shares of Cara Therapeutics from $31.00 to $31.50 and gave the stock an “outperform” rating in a research note on Tuesday, October 17th. Finally, Zacks Investment Research cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $25.17.

In other news, CEO Derek T. Chalmers sold 16,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $12.66, for a total transaction of $202,560.00. Following the completion of the transaction, the chief executive officer now directly owns 1,066,292 shares of the company’s stock, valued at approximately $13,499,256.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.70% of the stock is owned by corporate insiders.

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.

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

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