Cara Therapeutics, Inc. (NASDAQ:CARA) Short Interest Down 31.2% in September

Cara Therapeutics, Inc. (NASDAQ:CARAGet Free Report) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 832,200 shares, a decline of 31.2% from the September 15th total of 1,210,000 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average trading volume of 521,200 shares, the days-to-cover ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Cara Therapeutics in a research note on Saturday. They issued 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, the company presently has an average rating of “Hold” and a consensus target price of $2.32.

View Our Latest Research Report on CARA

Institutional Investors Weigh In On Cara Therapeutics

A hedge fund recently bought a new stake in Cara Therapeutics stock. Marquette Asset Management LLC purchased a new position in shares of Cara Therapeutics, Inc. (NASDAQ:CARAFree Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 94,238 shares of the biopharmaceutical company’s stock, valued at approximately $86,000. Marquette Asset Management LLC owned approximately 0.17% of Cara Therapeutics at the end of the most recent quarter. Institutional investors and hedge funds own 44.66% of the company’s stock.

Cara Therapeutics Stock Performance

Shares of NASDAQ CARA remained flat at $0.25 during midday trading on Friday. The stock had a trading volume of 356,264 shares, compared to its average volume of 639,855. The company has a market capitalization of $13.70 million, a P/E ratio of -0.11 and a beta of 0.70. Cara Therapeutics has a 52-week low of $0.24 and a 52-week high of $1.65. The company’s 50 day moving average is $0.31 and its 200 day moving average is $0.48.

Cara Therapeutics (NASDAQ:CARAGet Free Report) last released its quarterly earnings data on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.10). The firm had revenue of $0.99 million for the quarter, compared to the consensus estimate of $1.26 million. Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. Research analysts predict that Cara Therapeutics will post -1.24 earnings per share for the current fiscal year.

About Cara Therapeutics

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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.

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