Short Interest in Cara Therapeutics, Inc. (NASDAQ:CARA) Declines By 26.7%

Cara Therapeutics, Inc. (NASDAQ:CARA) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totalling 609,700 shares, a decline 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 trading volume of 327,000 shares, the short-interest ratio is currently 1.9 days.

Institutional Trading of Cara Therapeutics

A hedge fund recently raised its stake in Cara Therapeutics stock. Disciplined Growth Investors Inc. MN grew its stake in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) by 6.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,935,718 shares of the biopharmaceutical company’s stock after acquiring an additional 120,660 shares during the quarter. Disciplined Growth Investors Inc. MN owned about 3.54% of Cara Therapeutics worth $499,000 at the end of the most recent quarter. Institutional investors and hedge funds own 44.66% of the company’s stock.

Cara Therapeutics Stock Performance

CARA stock remained flat at $0.27 on Tuesday. 703,221 shares of the company traded hands, compared to its average volume of 618,853. The stock has a market capitalization of $14.59 million, a PE ratio of -0.12 and a beta of 0.70. The firm’s 50-day simple moving average is $0.29 and its 200 day simple moving average is $0.43. Cara Therapeutics has a 1 year low of $0.24 and a 1 year high of $1.40.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Cara Therapeutics in a research note on Monday. They set a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, Cara Therapeutics has a consensus rating of “Hold” and a consensus price target 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.