Cara Therapeutics, Inc. (NASDAQ:CARA) Short Interest Update

Cara Therapeutics, Inc. (NASDAQ:CARA) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,260,000 shares, an increase of 33.7% from the October 31st total of 942,500 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average daily volume of 508,900 shares, the days-to-cover ratio is currently 2.5 days.

Cara Therapeutics Stock Performance

Shares of NASDAQ CARA opened at $0.30 on Monday. Cara Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $1.31. The company has a market cap of $16.68 million, a price-to-earnings ratio of -0.17 and a beta of 0.68. The business’s 50 day moving average price is $0.29 and its 200-day moving average price is $0.36.

Institutional Trading of Cara Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of CARA. Disciplined Growth Investors Inc. MN boosted its stake in shares of Cara Therapeutics by 6.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 120,660 shares during the period. XTX Topco Ltd bought a new stake in Cara Therapeutics during the 3rd quarter valued at about $29,000. Finally, FMR LLC boosted its position in Cara Therapeutics by 18.5% in the 3rd quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 32,789 shares during the period. Hedge funds and other institutional investors own 44.66% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Cara Therapeutics in a research report on Friday. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, Cara Therapeutics currently has a consensus rating of “Hold” and an average price target of $2.32.

Cara Therapeutics Company Profile

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