Cara Therapeutics (NASDAQ:CARA) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Cara Therapeutics, Inc. (NASDAQ:CARA) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $5.05 and traded as high as $5.10. Cara Therapeutics shares last traded at $5.00, with a volume of 24,544 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Cara Therapeutics in a report on Wednesday, January 8th. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $27.84.

Cara Therapeutics Stock Down 0.2 %

The firm has a market capitalization of $22.86 million, a price-to-earnings ratio of -0.24 and a beta of 0.50. The stock’s fifty day moving average is $5.05 and its two-hundred day moving average is $4.08.

Hedge Funds Weigh In On Cara Therapeutics

A number of institutional investors have recently added to or reduced their stakes in CARA. FMR LLC increased its holdings in 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 bought a new position in Cara Therapeutics during the third quarter worth $29,000. Rockefeller Capital Management L.P. bought a new position in Cara Therapeutics during the fourth quarter worth $953,000. Curi RMB Capital LLC bought a new position in Cara Therapeutics during the fourth quarter worth $277,000. Finally, Shay Capital LLC bought a new position in Cara Therapeutics during the fourth quarter worth $524,000. 44.66% of the stock is currently 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.