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

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

Cara Therapeutics Stock Up 1.6 %

CARA stock opened at $0.31 on Thursday. The stock has a market cap of $17.01 million, a PE ratio of -0.18 and a beta of 0.68. The firm’s 50-day simple moving average is $0.29 and its 200 day simple moving average is $0.39. Cara Therapeutics has a fifty-two week low of $0.24 and a fifty-two week high of $1.31.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CARA. Disciplined Growth Investors Inc. MN grew its position 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 valued at $499,000 after buying an additional 120,660 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Cara Therapeutics in the 3rd quarter worth approximately $29,000. Finally, FMR LLC lifted its stake in shares of 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 acquiring an additional 32,789 shares during the period. 44.66% of the stock is owned by institutional investors and hedge funds.

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.