Cara Therapeutics, Inc. (NASDAQ:CARA) Short Interest Up 9.0% in September

Cara Therapeutics, Inc. (NASDAQ:CARA) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,210,000 shares, a growth of 9.0% from the August 31st total of 1,110,000 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 705,600 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CARA shares. StockNews.com began coverage on Cara Therapeutics in a research note on Thursday, September 26th. They issued a “sell” rating on the stock. Needham & Company LLC downgraded shares of Cara Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, June 13th. Canaccord Genuity Group reissued a “hold” rating and set a $1.00 price target (down previously from $10.00) on shares of Cara Therapeutics in a research report on Thursday, June 13th. Stifel Nicolaus cut shares of Cara Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the company from $6.00 to $1.00 in a research report on Thursday, June 13th. Finally, Canaccord Genuity Group lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $10.00 to $1.00 in a report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.32.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cara Therapeutics stock. Disciplined Growth Investors Inc. MN increased its holdings in Cara Therapeutics, Inc. (NASDAQ:CARA) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,935,718 shares of the biopharmaceutical company’s stock after acquiring an additional 120,660 shares during the quarter. Disciplined Growth Investors Inc. MN owned about 3.54% of Cara Therapeutics worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 44.66% of the company’s stock.

Cara Therapeutics Price Performance

NASDAQ:CARA traded down $0.00 during trading hours on Tuesday, hitting $0.31. The company had a trading volume of 20,925 shares, compared to its average volume of 654,388. Cara Therapeutics has a 52 week low of $0.24 and a 52 week high of $1.68. The company has a market capitalization of $16.73 million, a PE ratio of -0.14 and a beta of 0.70. The stock has a 50-day moving average price of $0.33 and a 200 day moving average price of $0.52.

Cara Therapeutics (NASDAQ:CARA) last announced its quarterly earnings results on Wednesday, August 14th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.10). Cara Therapeutics had a negative net margin of 1,010.20% and a negative return on equity of 241.31%. The company had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $1.26 million. Analysts anticipate that Cara Therapeutics will post -1.24 EPS for the current fiscal year.

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.