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

Cara Therapeutics, Inc. (NASDAQ:CARA) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 832,200 shares, a drop of 31.2% from the September 15th total of 1,210,000 shares. Based on an average daily volume of 521,200 shares, the days-to-cover ratio is currently 1.6 days. Approximately 1.8% of the shares of the company are short sold.

Institutional Investors Weigh In On Cara Therapeutics

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

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Cara Therapeutics in a research note on Saturday. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $2.32.

Cara Therapeutics Price Performance

CARA stock remained flat at $0.25 during mid-day trading on Friday. The company’s stock had a trading volume of 356,264 shares, compared to its average volume of 639,855. The firm has a market capitalization of $13.70 million, a PE ratio of -0.11 and a beta of 0.70. Cara Therapeutics has a 12 month low of $0.24 and a 12 month high of $1.65. The business has a 50 day moving average price of $0.31 and a 200-day moving average price of $0.48.

Cara Therapeutics (NASDAQ:CARA) last posted its 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). The company had revenue of $0.99 million during the quarter, compared to the consensus estimate of $1.26 million. Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. As a group, research analysts predict that Cara Therapeutics will post -1.24 earnings per share for the current fiscal 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.