Oppenheimer & Co. Inc. Grows Position in Cara Therapeutics, Inc. (NASDAQ:CARA)

Oppenheimer & Co. Inc. increased its position in shares of Cara Therapeutics, Inc. (NASDAQ:CARAGet Rating) by 37.3% during the 2nd quarter, Holdings Channel.com reports. The fund owned 17,130 shares of the biopharmaceutical company’s stock after acquiring an additional 4,650 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cara Therapeutics were worth $156,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Cara Therapeutics by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 3,244,377 shares of the biopharmaceutical company’s stock worth $39,419,000 after acquiring an additional 211,615 shares in the last quarter. Farallon Capital Management LLC lifted its stake in Cara Therapeutics by 25.0% during the 1st quarter. Farallon Capital Management LLC now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $30,375,000 after acquiring an additional 500,000 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in Cara Therapeutics by 2.3% during the 1st quarter. Disciplined Growth Investors Inc. MN now owns 1,694,350 shares of the biopharmaceutical company’s stock worth $20,586,000 after acquiring an additional 37,489 shares in the last quarter. State Street Corp lifted its stake in Cara Therapeutics by 12.3% during the 1st quarter. State Street Corp now owns 1,680,599 shares of the biopharmaceutical company’s stock worth $20,419,000 after acquiring an additional 184,099 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Cara Therapeutics by 49.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 792,191 shares of the biopharmaceutical company’s stock worth $9,625,000 after acquiring an additional 260,841 shares in the last quarter. Institutional investors and hedge funds own 65.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CARA shares. StockNews.com started coverage on Cara Therapeutics in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Piper Sandler reduced their price target on Cara Therapeutics to $25.00 in a research report on Tuesday, November 15th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Cara Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $26.60.

Cara Therapeutics Price Performance

CARA stock opened at $10.98 on Friday. The firm has a market capitalization of $589.96 million, a P/E ratio of -6.61 and a beta of 0.93. The business’s 50-day moving average is $9.79 and its two-hundred day moving average is $9.56. Cara Therapeutics, Inc. has a 1 year low of $7.40 and a 1 year high of $14.72.

Insider Activity

In other news, Director Martin Vogelbaum sold 10,800 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $10.28, for a total value of $111,024.00. Following the transaction, the director now owns 44,988 shares in the company, valued at approximately $462,476.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Martin Vogelbaum sold 10,800 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $10.28, for a total value of $111,024.00. Following the transaction, the director now owns 44,988 shares in the company, valued at approximately $462,476.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher Posner sold 14,470 shares of the stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $11.13, for a total value of $161,051.10. Following the completion of the transaction, the chief executive officer now owns 186,561 shares in the company, valued at approximately $2,076,423.93. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

Cara Therapeutics Profile

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Cara Therapeutics, Inc, an early commercial-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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Institutional Ownership by Quarter for Cara Therapeutics (NASDAQ:CARA)

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