Cara Therapeutics (NASDAQ:CARA) Shares Cross Above Fifty Day Moving Average – What’s Next?

Cara Therapeutics, Inc. (NASDAQ:CARA)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $4.02 and traded as high as $5.22. Cara Therapeutics shares last traded at $4.88, with a volume of 89,476 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Cara Therapeutics in a research note on Wednesday. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.84.

Cara Therapeutics Stock Down 2.7 %

The firm has a 50-day moving average of $4.05 and a two-hundred day moving average of $3.84. The stock has a market capitalization of $21.70 million, a price-to-earnings ratio of -2.71 and a beta of 0.51.

Institutional Trading of Cara Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in shares of Cara Therapeutics in the third quarter valued at approximately $29,000. FMR LLC grew its position in Cara Therapeutics by 18.5% in the 3rd quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 32,789 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its holdings in shares of Cara Therapeutics by 6.6% during 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 period. 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.