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

Cara Therapeutics, Inc. (NASDAQ:CARA) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,210,000 shares, a growth of 9.0% from the August 31st total of 1,110,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average daily volume of 705,600 shares, the short-interest ratio is presently 1.7 days.

Cara Therapeutics Stock Up 5.9 %

CARA stock traded up $0.02 during mid-day trading on Friday, reaching $0.31. The company had a trading volume of 645,339 shares, compared to its average volume of 660,258. Cara Therapeutics has a one year low of $0.24 and a one year high of $1.74. The stock has a market capitalization of $16.68 million, a P/E ratio of -0.14 and a beta of 0.70. The stock’s 50-day simple moving average is $0.33 and its two-hundred day simple moving average is $0.52.

Cara Therapeutics (NASDAQ:CARA) last issued its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.10). Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. The firm had revenue of $0.99 million during the quarter, compared to the consensus estimate of $1.26 million. On average, research analysts forecast that Cara Therapeutics will post -1.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CARA shares. Canaccord Genuity Group cut Cara Therapeutics from a “buy” rating to a “hold” rating and cut their price objective for the company from $10.00 to $1.00 in a research note on Thursday, June 13th. HC Wainwright cut Cara Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, June 13th. Canaccord Genuity Group reiterated a “hold” rating and set a $1.00 target price (down previously from $10.00) on shares of Cara Therapeutics in a research note on Thursday, June 13th. Needham & Company LLC cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, June 13th. Finally, Stifel Nicolaus lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the company from $6.00 to $1.00 in a report on Thursday, June 13th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Cara Therapeutics currently has an average rating of “Hold” and a consensus target price of $2.32.

Institutional Investors Weigh In On Cara Therapeutics

A hedge fund recently raised its stake in Cara Therapeutics stock. Disciplined Growth Investors Inc. MN raised its holdings in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,935,718 shares of the biopharmaceutical company’s stock after acquiring an additional 120,660 shares during the period. Disciplined Growth Investors Inc. MN owned approximately 3.54% of Cara Therapeutics worth $499,000 as of its most recent SEC filing. 44.66% of the stock is currently 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.