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

Investment analysts at StockNews.com started coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a report issued on Saturday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Cara Therapeutics Trading Down 1.2 %

Shares of NASDAQ:CARA opened at $0.27 on Friday. The company has a market capitalization of $14.59 million, a price-to-earnings ratio of -0.15 and a beta of 0.64. Cara Therapeutics has a 12 month low of $0.24 and a 12 month high of $1.31. The firm’s 50-day moving average is $0.29 and its 200 day moving average is $0.35.

Institutional Investors Weigh In On Cara Therapeutics

Several hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new position in Cara Therapeutics in the third quarter worth approximately $29,000. FMR LLC increased its holdings 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 acquiring an additional 32,789 shares during the period. Finally, Disciplined Growth Investors Inc. MN raised its position in shares of Cara Therapeutics by 6.6% in the 2nd 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. Hedge funds and other institutional investors own 44.66% of the company’s stock.

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.