Cara Therapeutics (NASDAQ:CARA) Stock Crosses Above 50-Day Moving Average – Here’s Why

Cara Therapeutics, Inc. (NASDAQ:CARA)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $4.02 and traded as high as $5.22. Cara Therapeutics shares last traded at $4.88, with a volume of 89,476 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Cara Therapeutics in a research note on Wednesday. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, Cara Therapeutics presently has an average rating of “Hold” and a consensus target price of $27.84.

Cara Therapeutics Stock Performance

The firm has a market cap of $21.70 million, a price-to-earnings ratio of -2.71 and a beta of 0.51. The business’s 50-day moving average is $4.05 and its 200-day moving average is $3.84.

Hedge Funds Weigh In On Cara Therapeutics

Several institutional investors have recently bought and sold shares of the business. FMR LLC lifted 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 worth $65,000 after purchasing an additional 32,789 shares in the last quarter. XTX Topco Ltd bought a new position in Cara Therapeutics in the 3rd quarter worth approximately $29,000. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in Cara Therapeutics by 6.6% during the 2nd 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 own 44.66% of the company’s stock.

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.