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

Equities researchers at StockNews.com assumed coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research note issued on Wednesday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Cara Therapeutics Price Performance

Shares of CARA stock opened at $4.75 on Wednesday. Cara Therapeutics has a 1 year low of $2.71 and a 1 year high of $13.80. The firm has a fifty day moving average price of $4.05 and a 200-day moving average price of $3.84. The company has a market cap of $21.70 million, a price-to-earnings ratio of -2.71 and a beta of 0.51.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN boosted its holdings in 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 worth $499,000 after buying an additional 120,660 shares during the period. FMR LLC boosted its holdings in Cara Therapeutics by 18.5% in the 3rd 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 period. Finally, XTX Topco Ltd bought a new position in Cara Therapeutics in the 3rd quarter worth $29,000. Institutional investors own 44.66% of the company’s stock.

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.