Cara Therapeutics (NASDAQ:CARA) Shares Set to Reverse Split on Tuesday, December 31st

Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) are scheduled to reverse split on Tuesday, December 31st. The 1-12 reverse split was announced on Friday, December 27th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 30th.

Cara Therapeutics Trading Down 16.0 %

CARA traded down $0.07 on Friday, hitting $0.38. 2,894,560 shares of the company were exchanged, compared to its average volume of 873,467. Cara Therapeutics has a twelve month low of $0.23 and a twelve month high of $1.15. The firm has a 50-day moving average price of $0.31 and a two-hundred day moving average price of $0.32. The company has a market cap of $20.74 million, a price-to-earnings ratio of -0.22 and a beta of 0.64.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Cara Therapeutics in a research note on Monday. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $2.32.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CARA. Disciplined Growth Investors Inc. MN lifted its position in Cara Therapeutics by 6.6% in the second 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 during the period. FMR LLC boosted its holdings in Cara Therapeutics by 18.5% during the third 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 in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Cara Therapeutics in the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds own 44.66% of the company’s stock.

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.