Cara Therapeutics (NASDAQ:CARA) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com assumed 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 Trading Down 6.1 %

Shares of NASDAQ CARA opened at $0.36 on Tuesday. Cara Therapeutics has a 12-month low of $0.23 and a 12-month high of $1.15. The stock’s 50 day simple moving average is $0.31 and its 200 day simple moving average is $0.31. The company has a market cap of $19.47 million, a price-to-earnings ratio of -0.20 and a beta of 0.64.

Hedge Funds Weigh In On Cara Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in shares of Cara Therapeutics in the 3rd quarter worth $29,000. FMR LLC grew its holdings in Cara Therapeutics by 18.5% during the third quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock worth $65,000 after acquiring an additional 32,789 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its position 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 worth $499,000 after acquiring an additional 120,660 shares in the last quarter. 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.