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Christopher Posner, President and CEO of Cara Therapeutics, Inc. (NASDAQ:CARA), recently sold 372 shares of the company’s common stock. The shares were sold at a price range of $4.72 to $4.74, with the total transaction amounting to $1,755. According to InvestingPro data, CARA currently trades at $5.12, with a market capitalization of just $23.22 million. This sale was part of a predetermined "sell to cover" arrangement aimed at satisfying tax withholding obligations triggered by the vesting of restricted stock units. Following this transaction, Posner holds 13,692 shares in the company. While InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 4.77, it also reveals concerning cash burn rates. Get access to 10+ additional InvestingPro Tips and comprehensive financial analysis through the Pro Research Report.
In other recent news, Cara Therapeutics has regained compliance with Nasdaq’s minimum bid price requirement. This follows a reverse stock split and a reduction in the total number of authorized shares, actions approved by Cara Therapeutics’ stockholders during the 2024 Annual Meeting of Stockholders. The company’s stock began trading on a post-split basis at the end of December 2024.
In further developments, Cara Therapeutics has announced a proposed merger with Tvardi Therapeutics, Inc., an action expected to help meet Nasdaq’s stockholders’ equity requirement. The merger, still pending, is subject to customary closing conditions, including regulatory approvals and approval by the stockholders of both companies.
In the event of a successful merger, the combined entity will focus on the development of treatments for fibrosis-driven diseases. The merged company, to be named Tvardi Therapeutics, Inc., will operate under the leadership of Tvardi’s CEO, Imran Alibhai, Ph.D. The companies anticipate reporting topline data from two Phase 2 clinical programs using Tvardi’s STAT3 inhibitor, TTI-101, in the second half of 2025.
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