Cara Therapeutics, Inc. (NASDAQ:CARA) Short Interest Down 26.7% in October

Cara Therapeutics, Inc. (NASDAQ:CARA) saw a significant drop in short interest in 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. Currently, 1.3% of the company’s stock are short sold. Based on an average daily volume of 327,000 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Cara Therapeutics

A hedge fund recently bought a new stake in Cara Therapeutics stock. Marquette Asset Management LLC acquired a new stake in Cara Therapeutics, Inc. (NASDAQ:CARA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing. Institutional investors own 44.66% of the company’s stock.

Cara Therapeutics Price Performance

CARA stock remained flat at $0.27 during mid-day trading on Tuesday. The company’s stock had a trading volume of 703,221 shares, compared to its average volume of 618,853. The company has a market capitalization of $14.59 million, a P/E ratio of -0.12 and a beta of 0.70. Cara Therapeutics has a 12-month low of $0.24 and a 12-month high of $1.40. The stock’s 50 day moving average is $0.29 and its 200 day moving average is $0.43.

Cara Therapeutics (NASDAQ:CARA) last released 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 net margin of 1,010.20% and a negative return on equity of 241.31%. The firm had revenue of $0.99 million during the quarter, compared to the consensus estimate of $1.26 million. As a group, equities analysts expect that Cara Therapeutics will post -1.24 EPS for the current fiscal year.

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.