It is currently trading at $12.43 just a bit lower than $13.35, the 50 day moving average and significantly below the 200 day moving average of $15.40. The 50 day moving average was down by -6.88% and the 200 day average went down by -19.30%. Trading was light with 18K shares changing hands in the last trading session. Overall, volume was down 98.39% under the stocks normal daily volume.
Investors are feeling more bullish on shares of the company of late as shown by the change in short interest. The stock saw a fall in short interest of -2.72% between September 15, 2017 and September 29, 2017. Short interest fell from 8,501,319 to 8,269,813 over that period. Days to cover increased 4.0 to 13.0 and the percentage of shorted shares was 0.26% on September 29.
Here is a rundown on some insider market activity for Cara Therapeutics, Inc. (NASDAQ:CARA). VP Frederique Ph.d. Menzaghi sold 3,000 shares at an average price of $15.00 on August 4th. That brings the VP’s holdings to $1,755,000 as recorded in a recent Form 4 SEC filing.
The following firms have recently changed their position in CARA. Davenport & Co LLC reduced its stake by selling 22,616 shares a decrease of 61.6% from 06/30/2017 to 09/30/2017. Davenport & Co LLC owns 14,111 shares worth $193,180,000. The value of the position overall is down by 65.8%. Sonora Investment Management, LLC divested its holdings by shedding 400 shares a decrease of 50.0% as of 09/30/2017. Sonora Investment Management, LLC claims 400 shares valued at $5,476,000. The total value of its holdings decreased 55.5%.
As of the end of the quarter Cutler Group LP had sold 14,273 shares trimming its position 86.1%. The value of the company’s investment in Cara Therapeutics, Inc. went from $255,000 to $31,000 a change of $224,000 since the last quarter. As of quarter end Creative Planning had acquired a total of 26,210 shares growing its holdings by 8,736.7%. The value of the investment in Cara Therapeutics, Inc. increased from $0 to $363,000 increasing inf% for the reporting period.
As of the latest earnings report the EPS was $-2.28 and is estimated to be $-1.78 for the current year with 32,581,000 shares currently outstanding. Next quarter’s EPS is forecasted at $-0.38 with next year’s EPS projected to be $-1.86.
Cara Therapeutics, Inc., launched on July 2, 2004, 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. It is developing a class of product candidates that target the body’s peripheral nervous system. The Company operates through the activities related to the discovery and development of therapeutics to treat serious medical conditions, including pain and pruritus. Its product candidate pipeline includes I.V. CR845 for acute pain; I.V. CR845 for uremic pruritus; Oral CR845 for acute and chronic pain, and CR701 for neuropathic and inflammatory pain..