Short Interest in Cara Therapeutics, Inc. (NASDAQ:CARA) Drops By 56.7%

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

Hedge Funds Weigh In On Cara Therapeutics

A hedge fund recently bought a new stake in Cara Therapeutics stock. XTX Topco Ltd acquired a new position in Cara Therapeutics, Inc. (NASDAQ:CARA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 94,709 shares of the biopharmaceutical company’s stock, valued at approximately $29,000. XTX Topco Ltd owned about 0.17% of Cara Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 44.66% of the company’s stock.

Cara Therapeutics Stock Up 3.6 %

CARA stock traded up $0.18 during trading on Wednesday, reaching $5.04. The stock had a trading volume of 26,845 shares, compared to its average volume of 68,426. The company has a market capitalization of $23.01 million, a price-to-earnings ratio of -0.24 and a beta of 0.51. Cara Therapeutics has a one year low of $2.71 and a one year high of $13.80. The company’s 50 day moving average is $4.34 and its two-hundred day moving average is $3.96.

Analyst Ratings Changes

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

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.