Cara Therapeutics (NASDAQ:CARA) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research note issued to investors on Friday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Cara Therapeutics Stock Up 5.5 %

Shares of CARA stock opened at $0.30 on Friday. The company has a market cap of $16.68 million, a price-to-earnings ratio of -0.17 and a beta of 0.68. Cara Therapeutics has a 52 week low of $0.24 and a 52 week high of $1.31. The firm has a 50 day moving average of $0.29 and a 200-day moving average of $0.37.

Institutional Investors Weigh In On Cara Therapeutics

A number of hedge funds have recently added to or reduced their stakes in CARA. Disciplined Growth Investors Inc. MN grew its position in Cara Therapeutics by 6.6% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 120,660 shares during the period. FMR LLC raised its holdings in shares of Cara Therapeutics by 18.5% in the 3rd quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 32,789 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in Cara Therapeutics in the 3rd quarter valued at about $29,000. Institutional investors and hedge funds own 44.66% of the company’s stock.

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.