Short Interest in Cara Therapeutics, Inc. (NASDAQ:CARA) Drops By 47.5%

Cara Therapeutics, Inc. (NASDAQ:CARA) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 63,600 shares, a drop of 47.5% from the January 15th total of 121,100 shares. Based on an average daily trading volume, of 137,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.7% of the company’s stock are sold short.

Cara Therapeutics Trading Up 7.5 %

CARA traded up $0.40 on Thursday, reaching $5.65. The company had a trading volume of 21,554 shares, compared to its average volume of 49,746. The company has a market capitalization of $25.80 million, a P/E ratio of -0.27 and a beta of 0.50. The company has a fifty day moving average of $4.67 and a 200-day moving average of $4.02. Cara Therapeutics has a one year low of $2.71 and a one year high of $13.80.

Institutional Investors Weigh In On Cara Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. bought a new stake in Cara Therapeutics in the fourth quarter worth about $953,000. XTX Topco Ltd acquired a new stake in Cara Therapeutics during the third quarter valued at approximately $29,000. Finally, FMR LLC boosted its holdings in Cara Therapeutics by 18.5% during the third quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock worth $65,000 after buying an additional 32,789 shares in the last quarter. Institutional investors own 44.66% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Cara Therapeutics in a research note on Wednesday, January 8th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.84.

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.