StockNews.com Initiates Coverage on Cara Therapeutics (NASDAQ:CARA)

StockNews.com started coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a note issued to investors on Friday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Cara Therapeutics Stock Down 1.5 %

Shares of NASDAQ:CARA opened at $5.15 on Friday. The firm has a market cap of $23.56 million, a price-to-earnings ratio of -0.25 and a beta of 0.50. Cara Therapeutics has a 12 month low of $2.71 and a 12 month high of $11.52. The company’s fifty day simple moving average is $4.97 and its 200 day simple moving average is $4.17.

Institutional Trading of Cara Therapeutics

A number of institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new position in shares of Cara Therapeutics during the fourth quarter worth about $953,000. XTX Topco Ltd acquired a new position in Cara Therapeutics during the 3rd quarter worth approximately $29,000. Shay Capital LLC bought a new position in shares of Cara Therapeutics during the 4th quarter worth approximately $524,000. Curi RMB Capital LLC acquired a new stake in shares of Cara Therapeutics in the fourth quarter valued at approximately $277,000. Finally, FMR LLC lifted its position in shares of Cara Therapeutics by 18.5% in the third quarter. FMR LLC now owns 210,312 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 32,789 shares in the last quarter. 44.66% of the stock is currently owned by institutional investors.

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.