Cara Therapeutics, Inc. (NASDAQ:CARA) Short Interest Down 24.0% in August

Cara Therapeutics, Inc. (NASDAQ:CARA) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,110,000 shares, a decrease of 24.0% from the August 15th total of 1,460,000 shares. Based on an average daily volume of 886,300 shares, the short-interest ratio is currently 1.3 days. Approximately 2.4% of the shares of the company are short sold.

Hedge Funds Weigh In On Cara Therapeutics

A number of institutional investors have recently bought and sold shares of CARA. Marquette Asset Management LLC bought a new position in Cara Therapeutics in the 1st quarter valued at about $86,000. Rosalind Advisors Inc. acquired a new position in Cara Therapeutics in the 1st quarter valued at $1,409,000. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in shares of Cara Therapeutics by 6.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock worth $499,000 after buying an additional 120,660 shares in the last quarter. Institutional investors and hedge funds own 44.66% of the company’s stock.

Analyst Upgrades and Downgrades

CARA has been the subject of several recent research reports. Canaccord Genuity Group lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.00 to $1.00 in a research report on Thursday, June 13th. Stifel Nicolaus downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the stock 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 report on Thursday, June 13th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $1.00 price objective (down previously from $10.00) on shares of Cara Therapeutics in a report on Thursday, June 13th. Finally, HC Wainwright cut Cara Therapeutics from a “buy” rating to a “neutral” rating in a report on Thursday, June 13th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $2.32.

Cara Therapeutics Price Performance

Cara Therapeutics stock remained flat at $0.27 during midday trading on Tuesday. The company had a trading volume of 212,386 shares, compared to its average volume of 673,177. The stock has a market capitalization of $14.60 million, a PE ratio of -0.12 and a beta of 0.70. The company’s fifty day moving average is $0.34 and its two-hundred day moving average is $0.56. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $2.31.

Cara Therapeutics (NASDAQ:CARA) last posted its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.10). The business had revenue of $0.99 million for the quarter, compared to analyst estimates 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, equities analysts anticipate that Cara Therapeutics will post -1.24 EPS for the current year.

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.