Cara Therapeutics, Inc. (NASDAQ:CARA) Given Average Rating of “Hold” by Analysts

Shares of Cara Therapeutics, Inc. (NASDAQ:CARA) have been given a consensus recommendation of “Hold” by the five analysts that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $27.84.

Separately, StockNews.com started coverage on shares of Cara Therapeutics in a research report on Tuesday, December 31st. They set a “sell” rating on the stock.

Cara Therapeutics Stock Performance

CARA opened at $5.22 on Monday. The stock has a market capitalization of $23.85 million, a PE ratio of -2.98 and a beta of 0.51. The stock’s 50 day moving average price is $3.95 and its 200-day moving average price is $3.80. Cara Therapeutics has a 52-week low of $2.71 and a 52-week high of $13.80.

Institutional Trading of Cara Therapeutics

A number of hedge funds have recently made changes to their positions in CARA. Disciplined Growth Investors Inc. MN raised its stake in Cara Therapeutics by 6.6% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,935,718 shares of the biopharmaceutical company’s stock valued at $499,000 after buying an additional 120,660 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Cara Therapeutics during the third quarter valued at $29,000. Finally, FMR LLC raised its position in shares of 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 during the last quarter. 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.