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

StockNews.com initiated coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research note published on Friday morning. The firm issued a sell rating on the biopharmaceutical company’s stock.

Cara Therapeutics Stock Performance

Cara Therapeutics stock opened at $5.70 on Friday. Cara Therapeutics has a fifty-two week low of $2.71 and a fifty-two week high of $11.52. The stock has a market cap of $26.07 million, a price-to-earnings ratio of -0.27 and a beta of 0.50. The stock’s 50 day simple moving average is $4.99 and its two-hundred day simple moving average is $4.19.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Curi RMB Capital LLC bought a new stake in shares of Cara Therapeutics during the fourth quarter valued at approximately $277,000. Shay Capital LLC purchased a new stake in Cara Therapeutics during the 4th quarter valued at $524,000. XTX Topco Ltd bought a new stake in shares of Cara Therapeutics in the 3rd quarter worth $29,000. Rockefeller Capital Management L.P. bought a new position in shares of Cara Therapeutics during the fourth quarter valued at $953,000. Finally, FMR LLC boosted its position 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 buying an additional 32,789 shares during the last quarter. Institutional investors own 44.66% of the company’s stock.

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.