Cara Therapeutics Stock Set to Reverse Split on Tuesday, December 31st (NASDAQ:CARA)

Cara Therapeutics, Inc. (NASDAQ:CARA)’s stock is going to reverse split before the market opens on Tuesday, December 31st. The 1-12 reverse split was announced on Friday, December 27th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 30th.

Cara Therapeutics Trading Down 16.0 %

NASDAQ CARA traded down $0.07 on Friday, hitting $0.38. The company’s stock had a trading volume of 2,894,560 shares, compared to its average volume of 873,467. The firm has a market cap of $20.74 million, a P/E ratio of -0.22 and a beta of 0.64. Cara Therapeutics has a 52-week low of $0.23 and a 52-week high of $1.15. The company’s 50-day simple moving average is $0.31 and its 200 day simple moving average is $0.32.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Cara Therapeutics in a research note on Monday. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat, Cara Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $2.32.

Institutional Investors Weigh In On Cara Therapeutics

Several hedge funds have recently made changes to their positions in CARA. Disciplined Growth Investors Inc. MN increased its stake in shares of 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 purchasing an additional 120,660 shares in the last quarter. FMR LLC raised its holdings 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 acquiring an additional 32,789 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Cara Therapeutics in the 3rd quarter worth about $29,000. 44.66% of the stock is currently 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.