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

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

Cara Therapeutics Price Performance

Cara Therapeutics stock opened at $0.30 on Friday. Cara Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $1.31. 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 company’s 50 day simple moving average is $0.29 and its 200 day simple moving average is $0.36.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CARA. XTX Topco Ltd acquired a new position in Cara Therapeutics during the third quarter worth approximately $29,000. FMR LLC raised its stake in Cara Therapeutics by 18.5% in the 3rd 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 period. Finally, Disciplined Growth Investors Inc. MN lifted its holdings in Cara Therapeutics by 6.6% during the 2nd 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 during the last quarter. Institutional investors own 44.66% of the company’s stock.

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.