Short Interest in Cara Therapeutics, Inc. (NASDAQ:CARA) Expands By 33.7%

Cara Therapeutics, Inc. (NASDAQ:CARA) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 1,260,000 shares, an increase of 33.7% from the October 31st total of 942,500 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average trading volume of 508,900 shares, the days-to-cover ratio is presently 2.5 days.

Cara Therapeutics Price Performance

Shares of CARA traded up $0.02 during mid-day trading on Friday, reaching $0.30. The company’s stock had a trading volume of 108,414 shares, compared to its average volume of 725,862. The business has a fifty day moving average of $0.29 and a 200 day moving average of $0.37. Cara Therapeutics has a 1 year low of $0.24 and a 1 year high of $1.31.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Cara Therapeutics in a research note on Friday. 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.32.

Institutional Trading of Cara Therapeutics

A number of hedge funds have recently modified their holdings of the business. FMR LLC raised its holdings 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 acquiring an additional 32,789 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Cara Therapeutics during the third quarter worth $29,000. Finally, Disciplined Growth Investors Inc. MN raised its holdings in shares of Cara Therapeutics by 6.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock worth $499,000 after acquiring an additional 120,660 shares in the last quarter. Hedge funds and other institutional investors 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.