Cara Therapeutics, Inc. (NASDAQ:CARA) Short Interest Update

Cara Therapeutics, Inc. (NASDAQ:CARA) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 613,400 shares, a decline of 68.2% from the June 30th total of 1,930,000 shares. Based on an average trading volume of 868,700 shares, the short-interest ratio is presently 0.7 days. Approximately 1.4% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

CARA has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Cara Therapeutics in a research note on Wednesday. They issued a “sell” rating on the stock. Stifel Nicolaus lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their price objective for the company from $6.00 to $1.00 in a research note on Thursday, June 13th. Needham & Company LLC lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Canaccord Genuity Group restated a “hold” rating and issued a $1.00 price objective (down from $10.00) on shares of Cara Therapeutics in a research note on Thursday, June 13th. Finally, HC Wainwright lowered shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CARA. Mackenzie Financial Corp grew its position in Cara Therapeutics by 71.2% during the fourth quarter. Mackenzie Financial Corp now owns 53,678 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 22,329 shares during the period. Marquette Asset Management LLC purchased a new stake in shares of Cara Therapeutics in the first quarter valued at about $86,000. Assenagon Asset Management S.A. lifted its holdings in shares of Cara Therapeutics by 155.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 167,838 shares of the biopharmaceutical company’s stock valued at $125,000 after purchasing an additional 102,230 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Cara Therapeutics by 3.5% in the fourth quarter. Federated Hermes Inc. now owns 831,849 shares of the biopharmaceutical company’s stock valued at $618,000 after purchasing an additional 28,365 shares in the last quarter. Finally, Rosalind Advisors Inc. purchased a new stake in shares of Cara Therapeutics in the first quarter valued at about $1,409,000. 44.66% of the stock is currently owned by institutional investors and hedge funds.

Cara Therapeutics Trading Up 2.0 %

Shares of Cara Therapeutics stock traded up $0.01 on Friday, reaching $0.37. 513,613 shares of the stock were exchanged, compared to its average volume of 1,265,077. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $3.45. The business has a fifty day moving average price of $0.45 and a two-hundred day moving average price of $0.64. The firm has a market capitalization of $20.36 million, a PE ratio of -0.17 and a beta of 0.69.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Monday, May 13th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.18). Cara Therapeutics had a negative return on equity of 174.15% and a negative net margin of 723.49%. The firm had revenue of $2.14 million for the quarter, compared to analyst estimates of $2.25 million. Research analysts expect that Cara Therapeutics will post -1.28 EPS for the current year.

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.