O Shaughnessy Asset Management LLC Invests $37,000 in Cara Therapeutics, Inc. (NASDAQ:CARA)

O Shaughnessy Asset Management LLC bought a new position in Cara Therapeutics, Inc. (NASDAQ:CARA) in the 2nd quarter, Holdings Channel.com reports. The firm bought 2,620 shares of the biopharmaceutical company’s stock, valued at approximately $37,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mutual of America Capital Management LLC acquired a new stake in shares of Cara Therapeutics in the second quarter worth $87,000. Rhumbline Advisers raised its holdings in shares of Cara Therapeutics by 177.8% during the second quarter. Rhumbline Advisers now owns 148,808 shares of the biopharmaceutical company’s stock worth $2,123,000 after acquiring an additional 95,239 shares in the last quarter. McCarthy Asset Management Inc. purchased a new stake in shares of Cara Therapeutics during the second quarter worth $55,000. Handelsbanken Fonder AB purchased a new stake in shares of Cara Therapeutics during the second quarter worth $221,000. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Cara Therapeutics by 1.4% during the second quarter. Pinnacle Associates Ltd. now owns 349,592 shares of the biopharmaceutical company’s stock worth $4,989,000 after acquiring an additional 4,941 shares in the last quarter. 62.01% of the stock is owned by institutional investors.

In other news, SVP Frederique Ph.D. Menzaghi sold 3,847 shares of the firm’s stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $14.20, for a total transaction of $54,627.40. Following the transaction, the senior vice president now directly owns 141,072 shares of the company’s stock, valued at $2,003,222.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Charles Reilly sold 1,982 shares of the stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $14.20, for a total transaction of $28,144.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,028 shares of company stock valued at $536,998. Company insiders own 6.20% of the company’s stock.

Several analysts recently issued reports on CARA shares. Needham & Company LLC started coverage on Cara Therapeutics in a report on Tuesday, August 24th. They set a “buy” rating and a $26.00 price objective for the company. Zacks Investment Research upgraded Cara Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, August 17th. HC Wainwright increased their price objective on Cara Therapeutics from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 24th. Finally, JPMorgan Chase & Co. initiated coverage on Cara Therapeutics in a report on Tuesday, August 3rd. They set a “neutral” rating and a $16.00 target price on the stock. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Cara Therapeutics has a consensus rating of “Buy” and a consensus price target of $22.75.

Shares of CARA opened at $15.93 on Friday. The company has a market capitalization of $797.93 million, a P/E ratio of 99.57 and a beta of 1.08. Cara Therapeutics, Inc. has a one year low of $11.22 and a one year high of $29.65. The business’s 50 day simple moving average is $13.88 and its 200-day simple moving average is $16.24.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Sunday, August 8th. The biopharmaceutical company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.06). Cara Therapeutics had a net margin of 10.88% and a return on equity of 4.12%. Sell-side analysts anticipate that Cara Therapeutics, Inc. will post -1.81 EPS for the current fiscal year.

Cara Therapeutics Company Profile

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.

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Institutional Ownership by Quarter for Cara Therapeutics (NASDAQ:CARA)

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