Bain Capital Life Sciences Discloses Position in CARA / Cara Therapeutics

Investing

Published: November 22, 2022 4:15 am

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.

This article originally appeared on Fintel

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