Cara Therapeutics, Inc. (NASDAQ:CARA) Given Average Rating of “Hold” by Brokerages

Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) have earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating. The average 1-year price target among brokers that have covered the stock in the last year is $2.32.

Separately, StockNews.com began coverage on Cara Therapeutics in a research report on Monday, December 23rd. They issued a “sell” rating on the stock.

Cara Therapeutics Stock Down 16.0 %

Shares of CARA opened at $0.38 on Monday. The stock’s 50-day moving average price is $0.31 and its 200 day moving average price is $0.31. Cara Therapeutics has a 12-month low of $0.23 and a 12-month high of $1.15. The firm has a market capitalization of $20.74 million, a price-to-earnings ratio of -0.22 and a beta of 0.64.

Shares of Cara Therapeutics are set to reverse split on the morning of 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 market closes on Monday, December 30th.

Institutional Trading of Cara Therapeutics

Several hedge funds have recently modified their holdings of the stock. XTX Topco Ltd acquired a new position in Cara Therapeutics during the 3rd quarter worth $29,000. FMR LLC lifted its stake in shares of Cara Therapeutics by 18.5% during 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. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Cara Therapeutics by 6.6% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock valued at $499,000 after acquiring an additional 120,660 shares during the last quarter. 44.66% of the stock is owned by institutional investors.

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.