Cara Therapeutics, Inc. (NASDAQ:CARA) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) by 20.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,065,750 shares of the biopharmaceutical company’s stock after selling 266,728 shares during the period. Renaissance Technologies LLC’s holdings in Cara Therapeutics were worth $275,000 as of its most recent SEC filing.

Separately, Marquette Asset Management LLC purchased a new position in shares of Cara Therapeutics in the first quarter valued at approximately $86,000. 44.66% of the stock is currently owned by hedge funds and other institutional investors.

Cara Therapeutics Stock Performance

Shares of CARA opened at $0.25 on Friday. The stock has a 50-day simple moving average of $0.31 and a 200-day simple moving average of $0.48. Cara Therapeutics, Inc. has a 1 year low of $0.24 and a 1 year high of $1.65. The stock has a market capitalization of $13.70 million, a PE ratio of -0.11 and a beta of 0.70.

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

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Cara Therapeutics in a research note on Saturday. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, Cara Therapeutics currently has a consensus rating of “Hold” and an average target price of $2.32.

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.