Cara Therapeutics, Inc. (NASDAQ:CARA) Sees Large Increase in Short Interest

Cara Therapeutics, Inc. (NASDAQ:CARA) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 1,260,000 shares, a growth of 33.7% from the October 31st total of 942,500 shares. Based on an average daily trading volume, of 508,900 shares, the short-interest ratio is presently 2.5 days. Approximately 2.8% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Cara Therapeutics in a research report on Friday. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.32.

Cara Therapeutics Stock Performance

Shares of NASDAQ CARA opened at $0.30 on Monday. The firm’s fifty day moving average is $0.29 and its two-hundred day moving average is $0.36. Cara Therapeutics has a 52-week low of $0.24 and a 52-week high of $1.31. The company has a market cap of $16.68 million, a P/E ratio of -0.17 and a beta of 0.68.

Hedge Funds Weigh In On Cara Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CARA. XTX Topco Ltd bought a new stake in Cara Therapeutics in the 3rd quarter worth approximately $29,000. FMR LLC increased its position in Cara Therapeutics by 18.5% in the third quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 32,789 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its stake in 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 valued at $499,000 after purchasing an additional 120,660 shares in the last quarter. 44.66% of the stock is owned by institutional investors.

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.