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Fintel reports that Bain Capital Life Sciences Opportunities III, LP has filed a 13G form with the SEC disclosing ownership of 2,696,030 shares of Cara Therapeutics Inc (CARA). This represents 5.0% of the company.
Cara Therapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing new chemical entities designed to alleviate pruritus by selectively targeting peripheral kappa opioid receptors, or KORs.
Cara is developing a novel and proprietary class of product candidates, led by KORSUVA™ (CR845/difelikefalin), a first-in-class KOR agonist that targets the body’s peripheral nervous system, as well as certain immune cells.
In two Phase 3 trials, KORSUVA injection has demonstrated statistically significant reductions in itch intensity and concomitant improvement in quality of life measures in hemodialysis patients with moderate-to-severe chronic kidney disease-associated pruritus (CKD-aP).
Oral KORSUVA™ has successfully completed a Phase 2 trial for the treatment of pruritus in patients with CKD and is currently in Phase 2 trials in atopic dermatitis, primary biliary cholangitis and notalgia paresthetica patients with moderate-to-severe pruritus.
What are other large shareholders doing?
Farallon Capital Management Llc holds 2,500,000 shares representing 4.65% ownership of the company. No change in the last quarter.
Disciplined Growth Investors Inc /mn holds 1,700,230 shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 1,698,822 shares, representing an increase of 0.08%. The firm increased its portfolio allocation in CARA by 5.92% over the last quarter.
Kingdon Capital Management, L.l.c. holds 1,333,000 shares representing 2.48% ownership of the company. In it’s prior filing, the firm reported owning 1,183,000 shares, representing an increase of 11.25%. The firm decreased its portfolio allocation in CARA by 12.90% over the last quarter.
Chescapmanager LLC holds 1,160,392 shares representing 2.16% ownership of the company. No change in the last quarter.
What is the overall Fund Sentiment?
There are 388 funds or institutions reporting positions in Cara Therapeutics Inc. This is a decrease of 13 owner(s) or 3.24%.
Average portfolio weight of all funds dedicated to Cara Therapeutics Inc is 0.0689%, an increase of 10.4066%. Total shares owned by institutions increased in the last three months by 2.04% to 38,245,250 shares.
Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and in particular how the company ranks compared to other companies in the investing universe.
Click to see the Fintel Fund Sentiment Score for CARA / Cara Therapeutics Inc.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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