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

Cara Therapeutics, Inc. (NASDAQ:CARA) 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.

Cara Therapeutics Stock Performance

CARA remained flat at $0.27 during trading on Tuesday. The company’s stock had a trading volume of 703,221 shares, compared to its average volume of 618,853. The stock has a 50-day moving average price of $0.29 and a 200 day moving average price of $0.43. The firm has a market capitalization of $14.59 million, a price-to-earnings ratio of -0.12 and a beta of 0.70. Cara Therapeutics has a one year low of $0.24 and a one year high of $1.40.

Cara Therapeutics (NASDAQ:CARA) 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) 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.