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

Investment analysts at StockNews.com initiated coverage on shares of Cara Therapeutics (NASDAQ:CARA) in a research note issued on Monday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

Cara Therapeutics Trading Down 4.1 %

CARA stock opened at $5.32 on Monday. The firm has a market cap of $24.33 million, a PE ratio of -0.25 and a beta of 0.41. The stock has a 50-day moving average price of $5.06 and a 200-day moving average price of $4.39. Cara Therapeutics has a 1-year low of $8.13 and a 1-year high of $31.32.

Institutional Investors Weigh In On Cara Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in Cara Therapeutics in the third quarter valued at approximately $29,000. FMR LLC grew its position in 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 purchasing an additional 32,789 shares in the last quarter. Curi RMB Capital LLC purchased a new stake in Cara Therapeutics in the 4th quarter valued at about $277,000. Shay Capital LLC bought a new position in shares of Cara Therapeutics during the 4th quarter worth approximately $524,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Cara Therapeutics in the 4th quarter worth approximately $953,000. 44.66% of the stock is 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.