Cara Therapeutics, Inc. (NASDAQ:CARA) Short Interest Down 47.5% in January

Cara Therapeutics, Inc. (NASDAQ:CARA) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 63,600 shares, a decrease of 47.5% from the January 15th total of 121,100 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average trading volume of 137,000 shares, the short-interest ratio is currently 0.5 days.

Cara Therapeutics Stock Performance

Shares of NASDAQ CARA traded up $0.40 during trading hours on Thursday, hitting $5.65. The stock had a trading volume of 21,554 shares, compared to its average volume of 49,746. The firm’s 50-day moving average price is $4.67 and its two-hundred day moving average price is $4.02. Cara Therapeutics has a 52 week low of $2.71 and a 52 week high of $13.80. The company has a market capitalization of $25.80 million, a P/E ratio of -0.27 and a beta of 0.50.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. FMR LLC increased its position 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. Rockefeller Capital Management L.P. bought a new stake in Cara Therapeutics during the fourth quarter worth approximately $953,000. Finally, XTX Topco Ltd acquired a new position in Cara Therapeutics during the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 44.66% of the company’s stock.

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.