Cara Therapeutics (NASDAQ:CARA) Research Coverage Started at StockNews.com

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

Cara Therapeutics Stock Performance

Shares of NASDAQ:CARA opened at $4.75 on Wednesday. The company has a market cap of $21.70 million, a price-to-earnings ratio of -2.71 and a beta of 0.51. The company has a 50-day moving average price of $4.07 and a 200-day moving average price of $3.84. Cara Therapeutics has a 12 month low of $2.71 and a 12 month high of $13.80.

Hedge Funds Weigh In On Cara Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of Cara Therapeutics by 18.5% during the third quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock valued at $65,000 after acquiring an additional 32,789 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Cara Therapeutics during the third quarter valued at about $29,000. Finally, Disciplined Growth Investors Inc. MN raised its stake in shares of 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 valued at $499,000 after acquiring an additional 120,660 shares during the last quarter. 44.66% of the stock is owned by institutional investors.

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.