Cara Therapeutics, Inc. (NASDAQ:CARA) Short Interest Up 54.6% in October

Cara Therapeutics, Inc. (NASDAQ:CARA) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 942,500 shares, a growth of 54.6% from the October 15th total of 609,700 shares. Based on an average trading volume of 471,700 shares, the days-to-cover ratio is presently 2.0 days. Approximately 2.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Cara Therapeutics

A number of large investors have recently modified their holdings of the business. XTX Topco Ltd acquired a new stake in shares of Cara Therapeutics in the third quarter valued at about $29,000. FMR LLC grew its stake in 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. Finally, Disciplined Growth Investors Inc. MN grew its stake in Cara Therapeutics by 6.6% in 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 in the last quarter. 44.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Cara Therapeutics in a report on Wednesday. They set 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $2.32.

Cara Therapeutics Stock Down 5.0 %

Shares of CARA opened at $0.31 on Friday. Cara Therapeutics has a twelve month low of $0.24 and a twelve month high of $1.31. The stock has a market capitalization of $17.06 million, a P/E ratio of -0.15 and a beta of 0.68. The company has a 50 day moving average of $0.29 and a 200-day moving average of $0.40.

Cara Therapeutics (NASDAQ:CARA) last announced its earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.10). Cara Therapeutics had a negative return on equity of 241.31% and a negative net margin of 1,010.20%. The business had revenue of $0.99 million for the quarter, compared to analyst estimates of $1.26 million. On average, sell-side analysts anticipate that Cara Therapeutics will post -1.24 earnings per share for the current fiscal year.

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.