StockNews.com Initiates Coverage on Cara Therapeutics (NASDAQ:CARA)

StockNews.com began coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research note published on Wednesday morning. The brokerage issued a sell rating on the biopharmaceutical company’s stock.

Cara Therapeutics Trading Down 2.7 %

Shares of Cara Therapeutics stock opened at $4.75 on Wednesday. The company has a fifty day moving average price of $4.02 and a 200 day moving average price of $3.83. Cara Therapeutics has a twelve month low of $2.71 and a twelve month high of $13.80. The stock has a market cap of $21.70 million, a price-to-earnings ratio of -2.71 and a beta of 0.51.

Institutional Trading of Cara Therapeutics

Several large investors have recently bought and sold shares of CARA. XTX Topco Ltd acquired a new stake in Cara Therapeutics during the 3rd quarter valued at $29,000. FMR LLC boosted its stake 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 valued at $65,000 after buying an additional 32,789 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings in 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 acquiring an additional 120,660 shares in the last quarter. Institutional investors and hedge funds own 44.66% of the company’s stock.

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.