Cara Therapeutics Stock to Reverse Split on Tuesday, December 31st (NASDAQ:CARA)

Cara Therapeutics, Inc. (NASDAQ:CARA)’s stock is scheduled to reverse split on Tuesday, December 31st. The 1-12 reverse split was announced on Friday, December 27th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 30th.

Cara Therapeutics Stock Down 16.0 %

Shares of NASDAQ CARA traded down $0.07 during mid-day trading on Friday, reaching $0.38. 2,894,560 shares of the company were exchanged, compared to its average volume of 873,467. Cara Therapeutics has a 1 year low of $0.23 and a 1 year high of $1.15. The firm has a 50-day moving average of $0.31 and a 200 day moving average of $0.32. The stock has a market cap of $20.74 million, a price-to-earnings ratio of -0.22 and a beta of 0.64.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Cara Therapeutics

A number of hedge funds have recently modified their holdings of CARA. XTX Topco Ltd purchased a new position in shares of Cara Therapeutics during the 3rd quarter worth $29,000. FMR LLC boosted its position in shares of Cara Therapeutics by 18.5% during the 3rd quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 32,789 shares during the period. Finally, 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 valued at $499,000 after buying an additional 120,660 shares in the last quarter. Hedge funds and other institutional investors own 44.66% of the company’s stock.

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.