Allspring Global Investments Holdings LLC Has $63,000 Stake in Cara Therapeutics, Inc. (NASDAQ:CARA)

Allspring Global Investments Holdings LLC grew its position in Cara Therapeutics, Inc. (NASDAQ:CARA) by 2,846.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,158 shares of the biopharmaceutical company’s stock after acquiring an additional 21,406 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cara Therapeutics were worth $63,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. raised its stake in shares of Cara Therapeutics by 27.7% in the first quarter. Federated Hermes Inc. now owns 6,009 shares of the biopharmaceutical company’s stock valued at $73,000 after acquiring an additional 1,302 shares during the last quarter. State of Wisconsin Investment Board raised its stake in shares of Cara Therapeutics by 4.1% in the fourth quarter. State of Wisconsin Investment Board now owns 45,798 shares of the biopharmaceutical company’s stock valued at $492,000 after acquiring an additional 1,807 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Cara Therapeutics by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 127,947 shares of the biopharmaceutical company’s stock valued at $1,555,000 after acquiring an additional 1,900 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Cara Therapeutics by 4.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 46,148 shares of the biopharmaceutical company’s stock valued at $496,000 after acquiring an additional 1,978 shares during the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in shares of Cara Therapeutics by 18.4% in the first quarter. Kestra Private Wealth Services LLC now owns 12,857 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 68.04% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on CARA shares. HC Wainwright lowered their price target on shares of Cara Therapeutics from $15.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, October 19th. StockNews.com started coverage on shares of Cara Therapeutics in a report on Thursday, October 5th. They issued a “sell” rating for the company. Piper Sandler reissued a “neutral” rating on shares of Cara Therapeutics in a report on Tuesday. Stifel Nicolaus lowered their price target on shares of Cara Therapeutics from $28.00 to $25.00 in a report on Tuesday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $22.00 price target on shares of Cara Therapeutics in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Cara Therapeutics presently has an average rating of “Hold” and an average target price of $15.86.

Cara Therapeutics Stock Performance

CARA opened at $1.10 on Friday. The company has a fifty day moving average price of $1.46 and a two-hundred day moving average price of $2.59. Cara Therapeutics, Inc. has a 52 week low of $1.02 and a 52 week high of $12.81. The firm has a market capitalization of $59.93 million, a PE ratio of -0.51 and a beta of 0.94.

Cara Therapeutics Profile

Cara Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapeutics treatment of 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.