Short Interest in Cara Therapeutics, Inc. (NASDAQ:CARA) Drops By 26.7%

by · The Cerbat Gem

Cara Therapeutics, Inc. (NASDAQ:CARA – Get Free Report) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 609,700 shares, a drop of 26.7% from the September 30th total of 832,200 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 327,000 shares, the days-to-cover ratio is presently 1.9 days.

Cara Therapeutics Price Performance

CARA remained flat at $0.27 during trading on Tuesday. 703,221 shares of the company’s stock were exchanged, compared to its average volume of 618,853. Cara Therapeutics has a 12 month low of $0.24 and a 12 month high of $1.40. The stock has a 50-day moving average of $0.29 and a two-hundred day moving average of $0.43. The stock has a market capitalization of $14.59 million, a PE ratio of -0.12 and a beta of 0.70.

Cara Therapeutics (NASDAQ:CARA – Get Free Report) last posted its earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.10). The business had revenue of $0.99 million for the quarter, compared to analyst estimates of $1.26 million. Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. As a group, analysts predict that Cara Therapeutics will post -1.24 earnings per share for the current fiscal year.

Institutional Trading of Cara Therapeutics

A hedge fund recently bought a new stake in Cara Therapeutics stock. Marquette Asset Management LLC acquired a new position in shares of Cara Therapeutics, Inc. (NASDAQ:CARA – Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 94,238 shares of the biopharmaceutical company’s stock, valued at approximately $86,000. Marquette Asset Management LLC owned 0.17% of Cara Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 44.66% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Cara Therapeutics in a research report on Monday. They set 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.com, Cara Therapeutics presently has an average rating of “Hold” and an average target price of $2.32.

Check Out Our Latest Stock Report on Cara Therapeutics

About Cara Therapeutics

(Get Free Report)

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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