Cara Therapeutics Inc. (NASDAQ:CARA) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,823,221 shares, an increase of 42.2% from the October 14th total of 2,688,279 shares. Approximately 17.9% of the shares of the stock are short sold. Based on an average trading volume of 751,706 shares, the short-interest ratio is presently 5.1 days.

Shares of Cara Therapeutics (NASDAQ:CARA) opened at 9.44 on Friday. Cara Therapeutics has a 12 month low of $4.26 and a 12 month high of $17.69. The firm’s 50-day moving average price is $8.00 and its 200-day moving average price is $6.31. The stock’s market capitalization is $257.54 million.

Cara Therapeutics (NASDAQ:CARA) last released its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.05. During the same period in the previous year, the business posted ($0.19) EPS. On average, equities research analysts forecast that Cara Therapeutics will post ($1.78) EPS for the current year.

A number of equities analysts have recently weighed in on CARA shares. CIBC dropped their price objective on Cara Therapeutics from $29.00 to $28.00 in a research note on Friday. HC Wainwright started coverage on Cara Therapeutics in a research note on Thursday, October 13th. They issued a “buy” rating and a $20.00 price objective for the company. Needham & Company LLC dropped their price objective on Cara Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Sunday, August 7th. Stifel Nicolaus dropped their price objective on Cara Therapeutics from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, August 5th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Cara Therapeutics in a research note on Friday, August 5th. Ten equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average target price of $21.95.

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in shares of Cara Therapeutics by 46.8% in the first quarter. JPMorgan Chase & Co. now owns 513,382 shares of the biopharmaceutical company’s stock valued at $3,194,000 after buying an additional 163,772 shares in the last quarter. CAM Group Holding A S raised its position in shares of Cara Therapeutics by 2.3% in the second quarter. CAM Group Holding A S now owns 268,000 shares of the biopharmaceutical company’s stock valued at $1,289,000 after buying an additional 6,000 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Cara Therapeutics by 91.6% in the second quarter. Janney Montgomery Scott LLC now owns 94,117 shares of the biopharmaceutical company’s stock valued at $991,000 after buying an additional 44,989 shares in the last quarter. A.R.T. Advisors LLC raised its position in shares of Cara Therapeutics by 798.6% in the first quarter. A.R.T. Advisors LLC now owns 139,303 shares of the biopharmaceutical company’s stock valued at $866,000 after buying an additional 123,800 shares in the last quarter. Finally, National Planning Corp acquired a new position in shares of Cara Therapeutics during the second quarter valued at $332,000. Institutional investors and hedge funds own 48.77% of the company’s stock.

About Cara Therapeutics

Cara Therapeutics, Inc is a clinical-stage biopharmaceutical company. The Company is focused on developing and commercializing chemical entities designed to alleviate pain and pruritus by focusing on kappa opioid receptors. The Company is engaged in developing product candidates that focus on the body’s peripheral nervous system.

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