Cara Therapeutics (NASDAQ:CARA) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a report published on Tuesday. The firm issued a sell rating on the biopharmaceutical company’s stock.

Cara Therapeutics Stock Performance

Shares of CARA stock opened at $6.12 on Tuesday. The stock’s 50-day moving average is $3.80 and its two-hundred day moving average is $3.75. Cara Therapeutics has a 1 year low of $2.71 and a 1 year high of $13.80. The firm has a market cap of $335.72 million, a price-to-earnings ratio of -3.50 and a beta of 0.64.

Hedge Funds Weigh In On Cara Therapeutics

A number of hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings 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 worth $65,000 after buying an additional 32,789 shares during the last quarter. XTX Topco Ltd acquired a new stake in Cara Therapeutics during the 3rd quarter worth approximately $29,000. Finally, Disciplined Growth Investors Inc. MN grew its stake in shares of Cara Therapeutics by 6.6% in 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. 44.66% of the stock is currently owned by hedge funds and other institutional investors.

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.