Cara Therapeutics (NASDAQ:CARA) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Cara Therapeutics (NASDAQ:CARA – Get Rating) in a research note published on Thursday morning. The firm issued a hold rating on the biopharmaceutical company’s stock.

A number of other equities analysts also recently weighed in on CARA. JPMorgan Chase & Co. dropped their price target on shares of Cara Therapeutics from $19.00 to $16.00 and set an overweight rating on the stock in a research note on Tuesday, March 7th. Canaccord Genuity Group lowered their target price on shares of Cara Therapeutics from $29.00 to $25.00 and set a buy rating on the stock in a research report on Tuesday, March 7th. Piper Sandler lowered their target price on shares of Cara Therapeutics from $25.00 to $13.00 and set an overweight rating on the stock in a research report on Tuesday, March 7th. Bank of America downgraded shares of Cara Therapeutics from a neutral rating to an underperform rating and lowered their target price for the stock from $13.00 to $6.00 in a research report on Tuesday, March 7th. Finally, HC Wainwright decreased their price target on shares of Cara Therapeutics from $25.00 to $20.00 and set a buy rating for the company in a report on Tuesday, March 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $17.00.

Cara Therapeutics Price Performance

Shares of NASDAQ:CARA opened at $5.48 on Thursday. The company’s fifty day moving average is $10.07 and its two-hundred day moving average is $10.30. Cara Therapeutics has a 12-month low of $5.37 and a 12-month high of $13.97.

Insider Transactions at Cara Therapeutics

In other news, CEO Christopher Posner sold 4,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $11.80, for a total transaction of $49,453.80. Following the completion of the sale, the chief executive officer now owns 182,370 shares of the company’s stock, valued at $2,151,966. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Joana Goncalves sold 2,992 shares of the firm’s stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $11.27, for a total value of $33,719.84. Following the completion of the sale, the insider now owns 71,901 shares of the company’s stock, valued at $810,324.27. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher Posner sold 4,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $11.80, for a total transaction of $49,453.80. Following the completion of the transaction, the chief executive officer now directly owns 182,370 shares in the company, valued at $2,151,966. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,954 shares of company stock valued at $147,171. Corporate insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Cara Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. boosted its position in shares of Cara Therapeutics by 27.7% during the first quarter. Federated Hermes Inc. now owns 6,009 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 1,302 shares in the last quarter. Mutual of America Capital Management LLC lifted its position in Cara Therapeutics by 17.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 7,111 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 1,078 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Cara Therapeutics by 29.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,610 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 1,724 shares during the period. Cetera Advisor Networks LLC acquired a new position in Cara Therapeutics in the 2nd quarter worth $93,000. Finally, Rafferty Asset Management LLC acquired a new position in Cara Therapeutics in the 2nd quarter worth $97,000. 69.26% of the stock is owned by institutional investors.

Cara Therapeutics Company Profile

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CARA Therapeutics, Inc is a clinical-stage biopharmaceutical company, which focuses on developing and commercializing new chemical entities designed to alleviate pruritus by selectively targeting peripheral kappa opioid receptors (KORs). Its portfolio includes opioid-based products, anesthetic-based drugs, and analgesics that targets to alleviate itch and pain.