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

Cara Therapeutics, Inc. (NASDAQ:CARA) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 942,500 shares, an increase of 54.6% from the October 15th total of 609,700 shares. Based on an average daily volume of 471,700 shares, the short-interest ratio is presently 2.0 days. Currently, 2.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On Cara Therapeutics

Institutional investors have recently modified their holdings of the stock. Disciplined Growth Investors Inc. MN increased its holdings in shares of Cara Therapeutics by 6.6% in 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. FMR LLC increased its stake 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 valued at $65,000 after buying an additional 32,789 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Cara Therapeutics in the 3rd quarter valued at $29,000. 44.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Cara Therapeutics in a report on Wednesday. They set a “sell” rating for the company. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, Cara Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $2.32.

Cara Therapeutics Stock Down 5.0 %

CARA traded down $0.02 during trading on Friday, hitting $0.31. The company’s stock had a trading volume of 549,766 shares, compared to its average volume of 648,369. The stock has a market capitalization of $17.06 million, a price-to-earnings ratio of -0.15 and a beta of 0.68. The firm’s 50 day moving average price is $0.29 and its two-hundred day moving average price is $0.40. Cara Therapeutics has a 12 month low of $0.24 and a 12 month high of $1.31.

Cara Therapeutics (NASDAQ:CARA) last released 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 net margin of 1,010.20% and a negative return on equity of 241.31%. The business had revenue of $0.99 million during the quarter, compared to the consensus estimate of $1.26 million. On average, sell-side analysts forecast that Cara Therapeutics will post -1.24 earnings per share for the current year.

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.