Short Interest in Cara Therapeutics, Inc. (NASDAQ:CARA) Drops By 26.7%

Cara Therapeutics, Inc. (NASDAQ:CARA) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 609,700 shares, a drop of 26.7% from the September 30th total of 832,200 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 327,000 shares, the days-to-cover ratio is presently 1.9 days.

Cara Therapeutics Price Performance

CARA remained flat at $0.27 during trading on Tuesday. 703,221 shares of the company’s stock were exchanged, compared to its average volume of 618,853. Cara Therapeutics has a 12 month low of $0.24 and a 12 month high of $1.40. The stock has a 50-day moving average of $0.29 and a two-hundred day moving average of $0.43. The stock has a market capitalization of $14.59 million, a PE ratio of -0.12 and a beta of 0.70.

Cara Therapeutics (NASDAQ:CARA) last posted its earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.10). The business had revenue of $0.99 million for the quarter, compared to analyst estimates of $1.26 million. Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. As a group, analysts predict that Cara Therapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Cara Therapeutics

A hedge fund recently bought a new stake in Cara Therapeutics stock. Marquette Asset Management LLC acquired a new position in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 94,238 shares of the biopharmaceutical company’s stock, valued at approximately $86,000. Marquette Asset Management LLC owned 0.17% of Cara Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 44.66% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Cara Therapeutics in a research report on Monday. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Cara Therapeutics presently has an average rating of “Hold” and an average target price of $2.32.

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.