Cara Therapeutics, Inc. (NASDAQ:CARA) Sees Significant Decline in Short Interest

Cara Therapeutics, Inc. (NASDAQ:CARA) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,110,000 shares, a drop of 24.0% from the August 15th total of 1,460,000 shares. Based on an average daily volume of 886,300 shares, the short-interest ratio is currently 1.3 days. Currently, 2.4% of the shares of the stock are short sold.

Institutional Trading of Cara Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN increased its position in shares of 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 purchasing an additional 120,660 shares during the last quarter. Marquette Asset Management LLC bought a new position in Cara Therapeutics during the first quarter valued at about $86,000. Finally, Rosalind Advisors Inc. purchased a new stake in Cara Therapeutics during the first quarter worth about $1,409,000. Hedge funds and other institutional investors own 44.66% of the company’s stock.

Cara Therapeutics Stock Performance

CARA stock remained flat at $0.27 during midday trading on Tuesday. 212,386 shares of the company traded hands, compared to its average volume of 673,177. The company’s fifty day moving average price is $0.34 and its two-hundred day moving average price is $0.56. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $2.31. The firm has a market cap of $14.60 million, a price-to-earnings 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 for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.10). The business had revenue of $0.99 million during the quarter, compared to analyst estimates of $1.26 million. Cara Therapeutics had a negative return on equity of 241.31% and a negative net margin of 1,010.20%. Analysts predict that Cara Therapeutics will post -1.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Stifel Nicolaus downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the stock from $6.00 to $1.00 in a report on Thursday, June 13th. HC Wainwright downgraded shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, June 13th. Canaccord Genuity Group cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating and decreased their target price for the stock from $10.00 to $1.00 in a research note on Thursday, June 13th. Needham & Company LLC cut Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $1.00 price objective (down previously from $10.00) on shares of Cara Therapeutics in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.32.

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.