Cara Therapeutics, Inc. (NASDAQ:CARA) Short Interest Up 33.7% in November

Cara Therapeutics, Inc. (NASDAQ:CARA) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,260,000 shares, an increase of 33.7% from the October 31st total of 942,500 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily volume of 508,900 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Trading of Cara Therapeutics

Large investors have recently modified their holdings of the business. Disciplined Growth Investors Inc. MN raised its stake in Cara Therapeutics by 6.6% in 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 purchasing an additional 120,660 shares in the last quarter. FMR LLC lifted its holdings 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 acquiring an additional 32,789 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Cara Therapeutics during the 3rd quarter worth $29,000. Institutional investors own 44.66% of the company’s stock.

Cara Therapeutics Stock Performance

NASDAQ:CARA opened at $0.30 on Friday. The firm has a market capitalization of $16.68 million, a price-to-earnings ratio of -0.17 and a beta of 0.68. The stock has a fifty day moving average of $0.29 and a 200 day moving average of $0.37. Cara Therapeutics has a 52-week low of $0.24 and a 52-week high of $1.31.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Cara Therapeutics in a research report on Friday. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Cara Therapeutics currently has a consensus rating of “Hold” and an average price target of $2.32.

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.