StockNews.com Begins Coverage on Cara Therapeutics (NASDAQ:CARA)

Stock analysts at StockNews.com assumed coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research report issued to clients and investors on Friday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Cara Therapeutics Trading Up 10.7 %

NASDAQ:CARA opened at $5.70 on Friday. The company’s 50-day moving average price is $4.99 and its 200-day moving average price is $4.18. The company has a market cap of $26.07 million, a P/E ratio of -0.27 and a beta of 0.50. Cara Therapeutics has a twelve month low of $2.71 and a twelve month high of $11.52.

Institutional Investors Weigh In On Cara Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in Cara Therapeutics during the third quarter worth about $29,000. FMR LLC grew its holdings in shares of Cara Therapeutics by 18.5% in the third quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 32,789 shares in the last quarter. Curi RMB Capital LLC acquired a new position in shares of Cara Therapeutics in the fourth quarter valued at approximately $277,000. Shay Capital LLC acquired a new position in shares of Cara Therapeutics in the fourth quarter valued at approximately $524,000. Finally, Rockefeller Capital Management L.P. purchased a new position in Cara Therapeutics in the fourth quarter worth approximately $953,000. 44.66% of the stock is currently owned by institutional investors and hedge funds.

About Cara Therapeutics

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.