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

Cara Therapeutics, Inc. (NASDAQ:CARA) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 142,600 shares, a decline of 56.7% from the December 15th total of 329,400 shares. Based on an average daily trading volume, of 136,200 shares, the short-interest ratio is presently 1.0 days. Currently, 3.7% of the company’s stock are sold short.

Hedge Funds Weigh In On Cara Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in shares of Cara Therapeutics in the third quarter worth approximately $29,000. FMR LLC boosted its position in shares of Cara Therapeutics by 18.5% during the third 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 last quarter. Finally, Disciplined Growth Investors Inc. MN grew its holdings in 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 worth $499,000 after buying an additional 120,660 shares in the last quarter. Institutional investors and hedge funds own 44.66% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Cara Therapeutics in a report on Wednesday, January 8th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.84.

Cara Therapeutics Price Performance

Shares of NASDAQ CARA traded down $0.21 during mid-day trading on Wednesday, reaching $4.46. 45,231 shares of the company’s stock traded hands, compared to its average volume of 92,748. The business has a 50-day simple moving average of $4.15 and a 200 day simple moving average of $3.87. The stock has a market cap of $20.38 million, a P/E ratio of -2.55 and a beta of 0.51. Cara Therapeutics has a 1-year low of $2.71 and a 1-year high of $13.80.

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.