Traders Buy Large Volume of Call Options on Cara Therapeutics (NASDAQ:CARA)

Cara Therapeutics, Inc. (NASDAQ:CARA) saw some unusual options trading on Wednesday. Stock traders acquired 11,027 call options on the stock. This represents an increase of 3,078% compared to the average volume of 347 call options.

In related news, Director Martin Vogelbaum sold 6,000 shares of Cara Therapeutics stock in a transaction on Tuesday, November 17th. The stock was sold at an average price of $16.09, for a total transaction of $96,540.00. Following the transaction, the director now directly owns 14,400 shares in the company, valued at $231,696. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Derek T. Chalmers sold 11,799 shares of Cara Therapeutics stock in a transaction on Tuesday, November 17th. The shares were sold at an average price of $16.00, for a total value of $188,784.00. Following the transaction, the chief executive officer now owns 941,421 shares in the company, valued at $15,062,736. The disclosure for this sale can be found here. Insiders have sold 56,135 shares of company stock worth $872,800 over the last quarter. 5.70% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Woodstock Corp bought a new position in shares of Cara Therapeutics during the fourth quarter valued at approximately $280,000. Virtu Financial LLC bought a new position in shares of Cara Therapeutics during the third quarter valued at approximately $170,000. California State Teachers Retirement System grew its stake in shares of Cara Therapeutics by 1.6% during the third quarter. California State Teachers Retirement System now owns 62,170 shares of the biopharmaceutical company’s stock valued at $791,000 after buying an additional 988 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Cara Therapeutics by 40.9% during the third quarter. Cubist Systematic Strategies LLC now owns 69,226 shares of the biopharmaceutical company’s stock valued at $881,000 after buying an additional 20,111 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Cara Therapeutics during the third quarter valued at approximately $397,000. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on CARA shares. BidaskClub downgraded Cara Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, December 18th. Zacks Investment Research downgraded Cara Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $30.80.

Shares of CARA stock opened at $17.47 on Thursday. Cara Therapeutics has a 12-month low of $8.88 and a 12-month high of $19.13. The stock’s 50-day moving average price is $15.29 and its 200-day moving average price is $15.40. The stock has a market capitalization of $870.57 million, a price-to-earnings ratio of -8.24 and a beta of 1.70.

Cara Therapeutics (NASDAQ:CARA) last issued its earnings results on Saturday, November 14th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.25. Cara Therapeutics had a negative return on equity of 64.36% and a negative net margin of 360.35%. The firm had revenue of $9.27 million for the quarter, compared to analysts’ expectations of $4.98 million. As a group, research analysts forecast that Cara Therapeutics will post -2.05 EPS for the current fiscal year.

About Cara Therapeutics

Cara Therapeutics, Inc, a clinical-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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