Cara Therapeutics (NASDAQ:CARA) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Cara Therapeutics, Inc. (NASDAQ:CARA)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.05 and traded as high as $5.10. Cara Therapeutics shares last traded at $5.00, with a volume of 24,544 shares.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Cara Therapeutics in a 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 given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.84.

Cara Therapeutics Stock Performance

The stock has a market capitalization of $22.86 million, a price-to-earnings ratio of -0.24 and a beta of 0.50. The firm’s fifty day simple moving average is $5.05 and its 200 day simple moving average is $4.08.

Institutional Trading of Cara Therapeutics

Several hedge funds have recently bought and sold shares of the stock. FMR LLC raised its holdings 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 valued at $65,000 after purchasing an additional 32,789 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Cara Therapeutics in the third quarter valued at approximately $29,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Cara Therapeutics in the fourth quarter valued at approximately $953,000. Curi RMB Capital LLC acquired a new stake in shares of Cara Therapeutics in the fourth quarter valued at approximately $277,000. Finally, Shay Capital LLC acquired a new stake in shares of Cara Therapeutics in the fourth quarter valued at approximately $524,000. 44.66% of the stock is currently owned by institutional investors and hedge funds.

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.