Cara Therapeutics, Inc. (NASDAQ:CARA) Short Interest Down 56.7% in December

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

Institutional Investors Weigh In On Cara Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in shares of Cara Therapeutics in the 3rd quarter worth about $29,000. FMR LLC increased its stake 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 during the period. Finally, Disciplined Growth Investors Inc. MN increased its stake in shares of 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 during the period. 44.66% of the stock is currently owned by institutional investors.

Cara Therapeutics Stock Performance

CARA remained flat at $4.66 on Tuesday. 42,996 shares of the company traded hands, compared to its average volume of 96,441. The company’s fifty day simple moving average is $4.11 and its two-hundred day simple moving average is $3.86. Cara Therapeutics has a 52-week low of $2.71 and a 52-week high of $13.80. The firm has a market capitalization of $21.29 million, a price-to-earnings ratio of -2.66 and a beta of 0.51.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Cara Therapeutics in a research note on Wednesday, January 8th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $27.84.

View Our Latest Report on Cara Therapeutics

About Cara Therapeutics

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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.

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