Acadian Asset Management LLC Decreases Stake in Cara Therapeutics, Inc. (NASDAQ:CARA)

Acadian Asset Management LLC lowered its stake in Cara Therapeutics, Inc. (NASDAQ:CARA) by 20.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 267,303 shares of the biopharmaceutical company’s stock after selling 66,928 shares during the period. Acadian Asset Management LLC’s holdings in Cara Therapeutics were worth $68,000 at the end of the most recent quarter.

Separately, Marquette Asset Management LLC purchased a new position in shares of Cara Therapeutics in the first quarter worth $86,000. 44.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com assumed coverage on shares of Cara Therapeutics in a report on Wednesday. They set a “sell” rating for the company. Canaccord Genuity Group reissued a “hold” rating and set a $1.00 target price (down previously from $10.00) on shares of Cara Therapeutics in a report on Thursday, June 13th. Canaccord Genuity Group cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $10.00 to $1.00 in a report on Thursday, June 13th. Needham & Company LLC cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, June 13th. Finally, HC Wainwright cut shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, June 13th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.32.

Cara Therapeutics Stock Performance

CARA opened at $0.30 on Friday. Cara Therapeutics, Inc. has a fifty-two week low of $0.24 and a fifty-two week high of $1.87. The company has a fifty day moving average of $0.34 and a two-hundred day moving average of $0.55. The stock has a market capitalization of $16.51 million, a price-to-earnings ratio of -0.13 and a beta of 0.70.

Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.10). Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. The company had revenue of $0.99 million during the quarter, compared to analyst estimates of $1.26 million. On average, equities research analysts forecast that Cara Therapeutics, Inc. will post -1.24 earnings per share for the current year.

Cara Therapeutics Profile

Cara Therapeutics, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing therapeutics treatment of chronic pruritus in the United States. The company's lead product is KORSUVA (difelikefalin) injection for the treatment of moderate-to-severe pruritus associated with chronic kidney disease (CKD) in adults undergoing hemodialysis.