Cara Therapeutics, Inc. (NASDAQ:CARA) Sees Large Growth in Short Interest

Cara Therapeutics, Inc. (NASDAQ:CARA) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 942,500 shares, an increase of 54.6% from the October 15th total of 609,700 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average daily volume of 471,700 shares, the short-interest ratio is currently 2.0 days.

Wall Street Analysts Forecast Growth

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

Cara Therapeutics Trading Down 5.0 %

NASDAQ CARA traded down $0.02 during trading on Friday, reaching $0.31. The company’s stock had a trading volume of 549,766 shares, compared to its average volume of 648,369. The stock has a market capitalization of $17.06 million, a PE ratio of -0.15 and a beta of 0.68. The business has a 50-day moving average price of $0.29 and a 200-day moving average price of $0.40. Cara Therapeutics has a 1-year low of $0.24 and a 1-year high of $1.31.

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 the consensus estimate of ($0.27) by ($0.10). Cara Therapeutics had a negative return on equity of 241.31% and a negative net margin of 1,010.20%. The company had revenue of $0.99 million during the quarter, compared to analyst estimates of $1.26 million. As a group, analysts expect that Cara Therapeutics will post -1.24 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN grew its stake in shares of 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 during the last quarter. FMR LLC boosted its holdings in 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 purchasing an additional 32,789 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Cara Therapeutics in the 3rd quarter worth $29,000. 44.66% of the stock is owned by institutional investors.

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.