California State Teachers Retirement System Buys 6,000 Shares of Cara Therapeutics Inc (CARA)
California State Teachers Retirement System raised its stake in shares of Cara Therapeutics Inc (NASDAQ:CARA) by 14.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,354 shares of the biopharmaceutical company’s stock after purchasing an additional 6,000 shares during the quarter. California State Teachers Retirement System owned 0.15% of Cara Therapeutics worth $729,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Cara Therapeutics by 10.4% in the 2nd quarter. Legal & General Group Plc now owns 7,167 shares of the biopharmaceutical company’s stock worth $118,000 after purchasing an additional 678 shares during the last quarter. Fred Alger Management Inc. bought a new position in Cara Therapeutics in the 2nd quarter worth approximately $123,000. Capital Fund Management S.A. bought a new position in Cara Therapeutics in the 2nd quarter worth approximately $171,000. Rathbone Brothers plc bought a new position in Cara Therapeutics in the 2nd quarter worth approximately $185,000. Finally, Voya Investment Management LLC raised its position in Cara Therapeutics by 15.4% in the 2nd quarter. Voya Investment Management LLC now owns 12,316 shares of the biopharmaceutical company’s stock worth $190,000 after purchasing an additional 1,646 shares during the last quarter. 58.80% of the stock is currently owned by institutional investors.
In other news, CEO Derek T. Chalmers sold 16,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $13,499,256.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 7.70% of the company’s stock.
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 Zacks’ consensus estimate of ($0.35) by ($0.03). During the same period in the prior year, the business posted ($0.42) EPS. research analysts anticipate that Cara Therapeutics Inc will post -1.84 earnings per share for the current fiscal year.
CARA has been the subject of several research analyst reports. 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 report on Tuesday, October 17th. Zacks Investment Research upgraded shares of Cara Therapeutics from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Wednesday, August 30th. ValuEngine cut shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, September 27th. Raymond James Financial upped their target price on shares of Cara Therapeutics from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Tuesday, November 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Cara Therapeutics in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $25.17.
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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.
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