Geode Capital Management LLC Raises Position in Cara Therapeutics, Inc. (CARA)

Geode Capital Management LLC increased its stake in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 186,106 shares of the biopharmaceutical company’s stock after buying an additional 8,793 shares during the period. Geode Capital Management LLC owned about 0.68% of Cara Therapeutics worth $3,422,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. RHO Capital Partners Inc. raised its stake in shares of Cara Therapeutics by 16.3% in the first quarter. RHO Capital Partners Inc. now owns 3,568,057 shares of the biopharmaceutical company’s stock valued at $65,617,000 after buying an additional 500,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Cara Therapeutics by 20.0% in the first quarter. Vanguard Group Inc. now owns 943,627 shares of the biopharmaceutical company’s stock valued at $17,353,000 after buying an additional 156,958 shares during the period. FMR LLC raised its stake in shares of Cara Therapeutics by 931.6% in the first quarter. FMR LLC now owns 938,776 shares of the biopharmaceutical company’s stock valued at $17,264,000 after buying an additional 847,777 shares during the period. State Street Corp raised its stake in shares of Cara Therapeutics by 7.1% in the fourth quarter. State Street Corp now owns 348,531 shares of the biopharmaceutical company’s stock valued at $3,244,000 after buying an additional 23,222 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Cara Therapeutics during the first quarter valued at about $5,517,000. 51.58% of the stock is owned by hedge funds and other institutional investors.

Cara Therapeutics, Inc. (CARA) traded down 2.74% during trading on Friday, hitting $13.14. 756,277 shares of the company’s stock were exchanged. The firm’s market cap is $428.11 million. The company’s 50-day moving average price is $14.38 and its 200 day moving average price is $16.41. Cara Therapeutics, Inc. has a 12-month low of $5.27 and a 12-month high of $28.50.

Cara Therapeutics (NASDAQ:CARA) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.32. The company’s revenue was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.48) EPS. Equities analysts forecast that Cara Therapeutics, Inc. will post ($1.78) earnings per share for the current fiscal year.

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Several analysts recently issued reports on the stock. Stifel Nicolaus restated a “buy” rating and set a $20.00 target price (down from $24.00) on shares of Cara Therapeutics in a research report on Friday, June 23rd. Vetr upgraded shares of Cara Therapeutics from a “buy” rating to a “strong-buy” rating and set a $22.99 target price for the company in a research report on Tuesday, July 4th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Cara Therapeutics in a research report on Monday, April 24th. Raymond James Financial, Inc. cut their target price on shares of Cara Therapeutics from $28.00 to $25.00 and set a “market perform” rating for the company in a research report on Thursday, August 3rd. Finally, Piper Jaffray Companies set a $27.00 target price on shares of Cara Therapeutics and gave the company a “buy” rating in a research report on Saturday, August 5th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Cara Therapeutics presently has an average rating of “Buy” and a consensus target price of $25.18.

In other news, VP Frederique Ph.D. Menzaghi sold 3,000 shares of Cara Therapeutics stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the completion of the transaction, the vice president now directly owns 120,000 shares of the company’s stock, valued at approximately $1,800,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Dean Slagel sold 250,000 shares of Cara Therapeutics stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $25.87, for a total transaction of $6,467,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 278,000 shares of company stock valued at $6,888,750. Insiders own 7.70% of the company’s stock.

Cara Therapeutics Company Profile

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.