Cara Therapeutics, Inc. (NASDAQ:CARA – Get Free Report) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 609,700 shares, a drop of 26.7% from the September 30th total of 832,200 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily volume of 327,000 shares, the short-interest ratio is presently 1.9 days.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on Cara Therapeutics in a report on Monday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, Cara Therapeutics presently has a consensus rating of “Hold” and an average target price of $2.32.
Get Our Latest Stock Report on Cara Therapeutics
Cara Therapeutics Stock Performance
Cara Therapeutics (NASDAQ:CARA – Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.10). Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. The firm had revenue of $0.99 million during the quarter, compared to the consensus estimate of $1.26 million. As a group, equities analysts forecast that Cara Therapeutics will post -1.24 EPS for the current year.
Institutional Trading of Cara Therapeutics
A hedge fund recently bought a new stake in Cara Therapeutics stock. Marquette Asset Management LLC acquired a new position in shares of Cara Therapeutics, Inc. (NASDAQ:CARA – Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 94,238 shares of the biopharmaceutical company’s stock, valued at approximately $86,000. Marquette Asset Management LLC owned approximately 0.17% of Cara Therapeutics as of its most recent SEC filing. 44.66% of the stock is owned by institutional investors and hedge funds.
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.
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