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

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

Cara Therapeutics Price Performance

Shares of CARA remained flat at $4.66 during mid-day trading on Tuesday. 42,996 shares of the stock traded hands, compared to its average volume of 96,441. The company has a fifty day moving average of $4.11 and a 200-day moving average of $3.86. Cara Therapeutics has a 12 month low of $2.71 and a 12 month high of $13.80. The company has a market cap of $21.29 million, a PE ratio of -2.66 and a beta of 0.51.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in shares of Cara Therapeutics during the 3rd quarter worth $29,000. FMR LLC boosted its position in shares of Cara Therapeutics by 18.5% in the 3rd quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 32,789 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its stake in Cara Therapeutics by 6.6% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 120,660 shares in the last quarter. Institutional investors own 44.66% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Cara Therapeutics in a research report on Wednesday, January 8th. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.84.

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.