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

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cara Therapeutics stock. Marquette Asset Management LLC acquired a new stake in shares of Cara Therapeutics, Inc. (NASDAQ:CARA) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 94,238 shares of the biopharmaceutical company’s stock, valued at approximately $86,000. Marquette Asset Management LLC owned approximately 0.17% of Cara Therapeutics at the end of the most recent quarter. Hedge funds and other institutional investors own 44.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Canaccord Genuity Group restated a “hold” rating and issued a $1.00 target price (down from $10.00) on shares of Cara Therapeutics in a research note on Thursday, June 13th. Canaccord Genuity Group lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and cut their target price for the stock from $10.00 to $1.00 in a research report on Thursday, June 13th. HC Wainwright lowered shares of Cara Therapeutics from a “buy” rating to a “neutral” rating in a research report on Thursday, June 13th. StockNews.com initiated coverage on shares of Cara Therapeutics in a research note on Thursday, September 26th. They set a “sell” rating on the stock. Finally, Stifel Nicolaus lowered shares of Cara Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $6.00 to $1.00 in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, Cara Therapeutics has a consensus rating of “Hold” and an average target price of $2.32.

Cara Therapeutics Stock Down 0.6 %

NASDAQ:CARA traded down $0.00 during mid-day trading on Tuesday, hitting $0.31. 20,925 shares of the stock traded hands, compared to its average volume of 654,388. Cara Therapeutics has a 12-month low of $0.24 and a 12-month high of $1.68. The company has a market cap of $16.73 million, a PE ratio of -0.14 and a beta of 0.70. The business’s 50-day moving average price is $0.33 and its 200 day moving average price is $0.52.

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

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.