Cara Therapeutics Stock to Reverse Split on Tuesday, December 31st (NASDAQ:CARA)

Cara Therapeutics, Inc. (NASDAQ:CARA)’s stock is set to reverse split on Tuesday, December 31st. The 1-12 reverse split was announced on Friday, December 27th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 30th.

Cara Therapeutics Stock Performance

Shares of Cara Therapeutics stock traded down $0.07 during trading hours on Friday, reaching $0.38. 2,894,560 shares of the company were exchanged, compared to its average volume of 873,467. The firm has a market cap of $20.74 million, a PE ratio of -0.22 and a beta of 0.64. The stock’s fifty day moving average is $0.31 and its 200 day moving average is $0.32. Cara Therapeutics has a 1 year low of $0.23 and a 1 year high of $1.15.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Cara Therapeutics in a research report on Monday. They issued 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN grew its holdings in shares of Cara Therapeutics by 6.6% during the second 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. XTX Topco Ltd purchased a new stake in Cara Therapeutics during the 3rd quarter valued at approximately $29,000. Finally, FMR LLC grew 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 purchasing an additional 32,789 shares during the last quarter. 44.66% of the stock is owned by institutional investors and hedge funds.

Cara Therapeutics Company Profile

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.