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

StockNews.com started coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a report issued on Tuesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Cara Therapeutics Price Performance

CARA opened at $6.12 on Tuesday. Cara Therapeutics has a fifty-two week low of $2.71 and a fifty-two week high of $13.80. The company has a market capitalization of $335.72 million, a P/E ratio of -3.50 and a beta of 0.64. The firm’s fifty day moving average price is $3.86 and its two-hundred day moving average price is $3.76.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CARA. FMR LLC grew its position in Cara Therapeutics by 18.5% in the third quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 32,789 shares during the period. XTX Topco Ltd acquired a new stake in shares of Cara Therapeutics in the 3rd quarter valued at $29,000. Finally, Disciplined Growth Investors Inc. MN grew its holdings in shares of Cara Therapeutics by 6.6% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 120,660 shares during the last quarter. Institutional investors and hedge funds 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.