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

Cara Therapeutics, Inc. (NASDAQ:CARA) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 1,210,000 shares, an increase of 9.0% from the August 31st total of 1,110,000 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average daily volume of 705,600 shares, the days-to-cover ratio is currently 1.7 days.

Cara Therapeutics Price Performance

NASDAQ CARA traded up $0.02 on Friday, hitting $0.31. 645,339 shares of the company were exchanged, compared to its average volume of 660,258. Cara Therapeutics has a twelve month low of $0.24 and a twelve month high of $1.74. The firm has a market capitalization of $16.68 million, a P/E ratio of -0.14 and a beta of 0.70. The company’s 50 day moving average price is $0.33 and its 200-day moving average price is $0.52.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.10). Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. The firm had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $1.26 million. As a group, equities analysts expect that Cara Therapeutics will post -1.24 EPS for the current year.

Analyst Upgrades and Downgrades

CARA has been the subject of several research analyst reports. Canaccord Genuity Group restated a “hold” rating and issued a $1.00 price objective (down previously from $10.00) on shares of Cara Therapeutics in a report on Thursday, June 13th. StockNews.com began coverage on shares of Cara Therapeutics in a report on Thursday. They issued a “sell” rating for the company. Stifel Nicolaus cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $6.00 to $1.00 in a research note on Thursday, June 13th. Needham & Company LLC lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Finally, Canaccord Genuity Group cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating and reduced their target price for the stock from $10.00 to $1.00 in a report on Thursday, June 13th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, Cara Therapeutics currently has an average rating of “Hold” and a consensus price target of $2.32.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Cara Therapeutics stock. Marquette Asset Management LLC acquired a new position in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 94,238 shares of the biopharmaceutical company’s stock, valued at approximately $86,000. Marquette Asset Management LLC owned 0.17% of Cara Therapeutics at the end of the most recent quarter. 44.66% of the stock is currently owned by institutional investors and hedge funds.

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.