StockNews.com Begins Coverage on Cara Therapeutics (NASDAQ:CARA)

Research analysts at StockNews.com started coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research report issued on Wednesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Cara Therapeutics Price Performance

Shares of NASDAQ CARA opened at $4.88 on Wednesday. The stock has a market capitalization of $22.30 million, a P/E ratio of -2.79 and a beta of 0.51. Cara Therapeutics has a one year low of $2.71 and a one year high of $13.80. The firm’s 50 day simple moving average is $4.02 and its two-hundred day simple moving average is $3.83.

Institutional Trading of Cara Therapeutics

Several institutional investors have recently added to or reduced their stakes in CARA. Disciplined Growth Investors Inc. MN boosted its holdings in Cara Therapeutics by 6.6% during 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 acquiring an additional 120,660 shares during the period. FMR LLC boosted its stake in shares of 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 during the period. Finally, XTX Topco Ltd bought a new position in shares of Cara Therapeutics in the third quarter worth approximately $29,000. 44.66% of the stock is currently owned by hedge funds and other 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.