The Vanguard Group, Inc. recently announced the acquisition of new stake in Cara Therapeutics Inc (NASDAQ:CARA). The institutional investor has increased its shareholding in the Healthcare company by 0.24% to 2.56 million shares with purchase of 6024.0 shares. This fresh investment now brings its stake to 4.70% valued currently at $2.48 million. In addition, Disciplined Growth Investors, Inc raised its holdings by 8196.0 to 1.77 million shares. And Chescapmanager LLC has lifted its position by 6.10% or 0.1 million shares – to 1.76 million shares.
Currently, there are 53.80M common shares owned by the public and among those 46.29M shares have been available to trade.
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Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 194,172 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 73,177 shares.
The top 3 mutual fund holders in Cara Therapeutics Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Rize UCITS ICAV – Medical Cannabi. Vanguard Total Stock Market ETF owns 1.35 million shares of the company’s stock, all valued at over $1.31 million. iShares Russell 2000 ETF bought 579.0 shares to see its total holdings expand to 1.18 million shares valued at over $1.14 million and representing 2.16% of the shares outstanding. Rize UCITS ICAV – Medical Cannabi now owns shares totaling to 1.52% of the shares outstanding.
However, the script later moved the day high at 1.1700, down -48.85%. The company’s stock has a 5-day price change of -45.53% and -67.57% over the past three months. CARA shares are trading -94.14% year to date (YTD), with the 12-month market performance down to -94.37% lower. It has a 12-month low price of $0.90 and touched a high of $12.49 over the same period. CARA has an average intraday trading volume of 524.47K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -41.91%, -47.81%, and -78.79% respectively.
Institutional ownership of Cara Therapeutics Inc (NASDAQ: CARA) shares accounts for 52.32% of the company’s 53.80M shares outstanding. Mutual fund holders own 30.19%, while other institutional holders and individual stakeholders account for 32.85% and 22.16% respectively.
It has a market capitalization of $34.27M and a beta (3y monthly) value of 0.74. The earnings-per-share (ttm) stands at -$2.16. Price movements for the stock have been influenced by the stock’s volatility, which stands at 28.59% over the week and 14.08% over the month.
Analysts forecast that Cara Therapeutics Inc (CARA) will achieve an EPS of -$0.44 for the current quarter, -$0.43 for the next quarter and -$2.08 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.63 while analysts give the company a high EPS estimate of $0.01. Comparatively, EPS for the current quarter was -$0.56 a year ago. Earnings per share for the fiscal year are expected to decrease by -27.80%, and 12.99% over the next financial year.
Looking at the support for the CARA, a number of firms have released research notes about the stock. BofA Securities stated their Underperform rating for the stock in a research note on March 08, 2023, with the firm’s price target at $13-$6.
