Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cara Therapeutics Inc. shares valued at $111,024 were sold by VOGELBAUM MARTIN on Sep 14. At $10.28 per share, VOGELBAUM MARTIN sold 10,800 shares. The insider’s holdings dropped to 44,988 shares worth approximately $0.41 million following the completion of this transaction.
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Also, Ives Jeffrey L. sold 3,600 shares, netting a total of over 32,580 in proceeds. Following the sale of shares at $9.05 each, the insider now holds 15,476 shares.
Before that, BAINS HARRISON M JR had sold 7,200 shares from its account. In a trade valued at $65,160, the Director traded Cara Therapeutics Inc. shares for $9.05 each. Upon closing the transaction, the insider’s holdings decreased to 7,200 shares, worth approximately $0.23 million.
As published in a research note from JP Morgan on March 08, 2022, Cara Therapeutics Inc. [CARA] has been rated up from a Neutral to an Overweight and the price target has been revised to $20 from $17. This represents a 54.55% premium over Wednesday’s closing price. As of August 03, 2021, JP Morgan has initiated its “Neutral” rating for CARA. Earlier on April 21, 2020, H.C. Wainwright resumed its rating. Their recommendation was “a Buy” for CARA stock.
Analyzing CARA Stock Performance
On Wednesday, Cara Therapeutics Inc. [NASDAQ: CARA] plunged -5.80% to $9.09. The stock’s lowest price that day was $9.01, but it reached a high of $9.72 in the same session. During the last five days, there has been a drop of approximately -8.27%. Over the course of the year, Cara Therapeutics Inc. shares have dropped approximately -25.37%. Shares of the company reached a 52-week high of $13.97 on 04/18/22 and a 52-week low of $7.40 on 05/09/22. A 50-day SMA is recorded $9.90, while a 200-day SMA reached $10.23. Nevertheless, trading volume fell to 0.54 million shares from 0.45 million shares the previous day.
Support And Resistance Levels for Cara Therapeutics Inc. (CARA)
According to the 24-hour chart, there is a support level at 8.83, which, if violated, would cause prices to drop to 8.56. In the upper region, resistance lies at 9.54. The next price resistance is at 9.98. RSI (Relative Strength Index) is 40.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.43, which suggests the price will decrease in the coming days. Percent R is at 95.96%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Cara Therapeutics Inc. subject to short interest?
Stocks of Cara Therapeutics Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.75 million shares to 7.03 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.28 million shares. A jump of 10.67% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 15.4 of the overall float, the days-to-cover ratio (short ratio) jumped to 15.4.
Which companies own the most shares of Cara Therapeutics Inc. (CARA)?
According to BlackRock Fund Advisors filings, the company currently owns 6,837,331 shares, which is about 12.73% of the total CARA shares outstanding. The investor’s shares have appreciated by 153,978 from its previous 13-F filing of 6683353.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $29,934,057. A total of 4,472 shares of Cara Therapeutics Inc. were bought by Disciplined Growth Investors, Inc during the quarter, and 0 by Kingdon Capital Management LLC. In its current portfolio, Chescapmanager LLC holds 1,160,392 shares valued at $10.86 million.
On August 12, 2019, H.C. Wainwright assigned a price target of “a Buy” to the stock and reiterated coverage with a $30.