Cara Therapeutics Inc (NASDAQ:CARA) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 818 put options on the company. This is an increase of 624% compared to the typical daily volume of 113 put options.

Shares of NASDAQ CARA opened at $19.48 on Thursday. The company has a market capitalization of $684.83 million, a PE ratio of -9.46 and a beta of 2.68. Cara Therapeutics has a 52-week low of $11.46 and a 52-week high of $24.30.

Cara Therapeutics (NASDAQ:CARA) last released its earnings results on Tuesday, March 12th. The biopharmaceutical company reported ($0.52) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.59) by $0.07. The company had revenue of $5.53 million for the quarter, compared to analyst estimates of $3.35 million. Equities research analysts forecast that Cara Therapeutics will post -2.31 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on CARA shares. Zacks Investment Research upgraded shares of Cara Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. BidaskClub downgraded shares of Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, December 1st. Janney Montgomery Scott started coverage on shares of Cara Therapeutics in a research report on Thursday, December 20th. They issued a “buy” rating and a $13.36 price target on the stock. Piper Jaffray Companies set a $27.00 price target on shares of Cara Therapeutics and gave the stock a “buy” rating in a research report on Thursday, December 20th. Finally, Canaccord Genuity set a $25.00 price target on shares of Cara Therapeutics and gave the stock a “buy” rating in a research report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Cara Therapeutics has an average rating of “Buy” and an average price target of $24.03.

In other Cara Therapeutics news, CEO Derek T. Chalmers sold 9,792 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $17.04, for a total transaction of $166,855.68. Following the sale, the chief executive officer now directly owns 943,996 shares of the company’s stock, valued at approximately $16,085,691.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Frederique Ph.D. Menzaghi sold 4,300 shares of the business’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $12.53, for a total transaction of $53,879.00. The disclosure for this sale can be found here. Insiders have sold a total of 108,942 shares of company stock worth $1,498,450 over the last three months. Insiders own 6.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Avondale Wealth Management lifted its position in shares of Cara Therapeutics by 50.0% during the 4th quarter. Avondale Wealth Management now owns 3,000 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cara Therapeutics by 36.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,601 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 964 shares during the period. Captrust Financial Advisors lifted its position in shares of Cara Therapeutics by 40.0% during the 4th quarter. Captrust Financial Advisors now owns 4,900 shares of the biopharmaceutical company’s stock valued at $64,000 after acquiring an additional 1,400 shares during the period. Legal & General Group Plc lifted its position in shares of Cara Therapeutics by 36.2% during the 3rd quarter. Legal & General Group Plc now owns 5,538 shares of the biopharmaceutical company’s stock valued at $132,000 after acquiring an additional 1,472 shares during the period. Finally, Pacer Advisors Inc. acquired a new position in shares of Cara Therapeutics during the 3rd quarter valued at $138,000. Institutional investors own 61.72% of the company’s stock.

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Cara Therapeutics Company 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.

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