How Does Cara Therapeutics Inc (CARA) Stack Up Against Its Peers?

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Now, key hedge funds were leading the bulls’ herd. Renaissance Technologies, one of the largest hedge funds in the world, assembled the largest position in Cara Therapeutics Inc (NASDAQ:CARA). Renaissance Technologies had $2.1 million invested in the company at the end of the quarter. Ellington also made a $0.8 million investment in the stock during the quarter. Ken Griffin’s Citadel Investment Group was also a new CARA investor during the quarter.

Let’s also examine hedge fund activity in other stocks similar to Cara Therapeutics Inc (NASDAQ:CARA). These stocks are Zagg Inc (NASDAQ:ZAGG), Abraxas Petroleum Corp. (NASDAQ:AXAS), Neff Corp (NYSE:NEFF), and Park City Group, Inc. (NYSEAMEX:PCYG). This group of stocks’ market caps match CARA’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
ZAGG 8 11465 -3
AXAS 7 17789 2
NEFF 5 7950 5
PCYG 5 1754 5

As you can see these stocks had an average of 6 hedge funds with bullish positions and the average amount invested in these stocks was $10 million. That figure was $13 million in CARA’s case. Zagg Inc (NASDAQ:ZAGG) is the most popular stock in this table. On the other hand Neff Corp (NYSE:NEFF) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Cara Therapeutics Inc (NASDAQ:CARA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None

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