Cara Therapeutics, Inc. (NASDAQ:CARA) Sees Large Decrease in Short Interest

Cara Therapeutics, Inc. (NASDAQ:CARA) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 832,200 shares, a decline of 31.2% from the September 15th total of 1,210,000 shares. Based on an average daily trading volume, of 521,200 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.8% of the company’s stock are sold short.

Cara Therapeutics Price Performance

Shares of CARA stock remained flat at $0.25 during trading on Friday. The company had a trading volume of 356,264 shares, compared to its average volume of 639,855. The stock has a 50 day moving average price of $0.31 and a 200 day moving average price of $0.48. The firm has a market cap of $13.70 million, a P/E ratio of -0.11 and a beta of 0.70. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $1.65.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.10). The business had revenue of $0.99 million during the quarter, compared to the consensus estimate of $1.26 million. Cara Therapeutics had a negative return on equity of 241.31% and a negative net margin of 1,010.20%. As a group, sell-side analysts anticipate that Cara Therapeutics will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cara Therapeutics stock. Disciplined Growth Investors Inc. MN boosted its holdings in Cara Therapeutics, Inc. (NASDAQ:CARA) by 6.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,935,718 shares of the biopharmaceutical company’s stock after buying an additional 120,660 shares during the period. Disciplined Growth Investors Inc. MN owned approximately 3.54% of Cara Therapeutics worth $499,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 44.66% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Cara Therapeutics in a research note on Saturday. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.32.

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.