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

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

Cara Therapeutics Stock Performance

Shares of NASDAQ CARA opened at $0.31 on Thursday. The firm has a 50 day moving average price of $0.29 and a 200 day moving average price of $0.38. The stock has a market cap of $16.74 million, a P/E ratio of -0.17 and a beta of 0.68. Cara Therapeutics has a 52-week low of $0.24 and a 52-week high of $1.31.

Institutional Investors Weigh In On Cara Therapeutics

Institutional investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new stake in Cara Therapeutics in the 3rd quarter valued at $29,000. FMR LLC increased 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 last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in Cara Therapeutics by 6.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock worth $499,000 after acquiring an additional 120,660 shares in the last quarter. Institutional investors 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.