StockNews.com Begins Coverage on Cara Therapeutics (NASDAQ:CARA)

Research analysts at StockNews.com initiated coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research note issued on Thursday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Cara Therapeutics Price Performance

Cara Therapeutics stock opened at $0.31 on Thursday. Cara Therapeutics has a 52-week low of $0.24 and a 52-week high of $1.31. The firm’s fifty day moving average is $0.29 and its 200 day moving average is $0.39. The company has a market cap of $16.73 million, a price-to-earnings ratio of -0.17 and a beta of 0.68.

Institutional Trading of Cara Therapeutics

Several hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake 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 last quarter. XTX Topco Ltd purchased a new stake in Cara Therapeutics during the 3rd quarter valued at $29,000. Finally, Disciplined Growth Investors Inc. MN raised its holdings in 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 valued at $499,000 after buying an additional 120,660 shares during the period. 44.66% of the stock is currently owned by hedge funds and other 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.