Cara Therapeutics Inc (CARA) : Ridgeback Capital Investments added new position in Cara Therapeutics Inc during the most recent quarter end. The investment management firm now holds 622,140 shares of Cara Therapeutics Inc which is valued at $3.2 Million , the company said in a statement filed on May 13, 2016 with the SEC.Cara Therapeutics Inc makes up approximately 26.02% of Ridgeback Capital Investments’s portfolio.
Other Hedge Funds, Including , Susquehanna International Group Llp reduced its stake in CARA by selling 11,621 shares or 49.54% in the most recent quarter. The Hedge Fund company now holds 11,836 shares of CARA which is valued at $61,784.Tiaa Cref Investment Management boosted its stake in CARA in the latest quarter, The investment management firm added 2,683 additional shares and now holds a total of 102,866 shares of Cara Therapeutics Inc which is valued at $571,935. Alambic Investment Management added CARA to its portfolio by purchasing 48,888 company shares during the most recent quarter which is valued at $271,817. Cara Therapeutics Inc makes up approx 0.09% of Alambic Investment Management’s portfolio.
Cara Therapeutics Inc opened for trading at $6.21 and hit $6.35 on the upside on Wednesday, eventually ending the session at $6.24, with a gain of 0.81% or 0.05 points. The heightened volatility saw the trading volume jump to 3,91,119 shares. Company has a market cap of $170 M.
On the company’s financial health, Cara Therapeutics Inc reported $-0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 5, 2016. Analyst had a consensus of $-0.40. The company had revenue of $.01 million for the quarter, compared to analysts expectations of $.03 million. The company’s revenue was down -98.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.21 EPS.
Many Wall Street Analysts have commented on Cara Therapeutics Inc. Shares were Reiterated by Laidlaw on Feb 29, 2016 to “Buy” and Lowered the Price Target to $ 17 from a previous price target of $30 .
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. The Company is engaged in developing product candidates that focus on the body’s peripheral nervous system. Its product candidate pipeline includes I.V. CR845 for acute pain; I.V. CR845 for uremic pruritus; Oral CR845 for acute and chronic pain and CR701 for neuropathic and inflammatory pain. CR845 is a peripherally-acting kappa opioid receptor agonist for the treatment of both acute and chronic pain. I.V. CR845 is an injectable version of its peripheral kappa opioid receptor agonist which is designed to provide pain relief without stimulating mu opioid receptors. CR701 is a peripherally-restricted mixed-CB1/CB2 receptor agonist that interacts with these cannabinoid receptor subtypes with no off-target activities.