Cara Therapeutics (NASDAQ:CARA) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research report issued on Tuesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Cara Therapeutics Stock Performance

Shares of CARA opened at $6.12 on Tuesday. The company has a market cap of $335.72 million, a price-to-earnings ratio of -3.50 and a beta of 0.64. The stock has a fifty day moving average price of $3.86 and a two-hundred day moving average price of $3.76. Cara Therapeutics has a 52-week low of $2.71 and a 52-week high of $13.80.

Institutional Investors Weigh In On Cara Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new position in shares of Cara Therapeutics during the third quarter worth approximately $29,000. FMR LLC raised its position in Cara Therapeutics by 18.5% in the 3rd quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 32,789 shares during the last quarter. 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 and hedge funds own 44.66% of the company’s stock.

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.