CARA Stock Summary and Trading Ideas (Cara Therapeutics | NASDAQ:CARA)

Cara Therapeutics Inc is a development-stage biotechnology company involved in the development of novel therapeutics to treat human diseases associated with inflammation, pain, and pruritus. Cara's most advanced compound, CR845, aims to treat acute pain and pruritus. This patented compound has analgesic, anti-inflammatory, and antipruritic properties that can be used for multiple therapeutic applications. Additionally, Cara's objective is to use its proprietary drug-screening technology to develop a future pipeline of first-in-class molecules with analgesic and anti-inflammatory features.

Cara Therapeutics trades on the NASDAQ stock market under the symbol CARA.

As of April 24, 2024, CARA stock price declined to $0.67 with 212,395 million shares trading.

CARA has a beta of 2.63, meaning it tends to be more sensitive to market movements. CARA has a correlation of 0.09 to the broad based SPY ETF.

CARA has a market cap of $36.71 million. This is considered a Sub-Micro Cap stock.

Last quarter Cara Therapeutics reported $3 million in Revenue and -$.59 earnings per share. This fell short of revenue expectation by $-6 million and missed earnings estimates by -$.18.

In the last 3 years, CARA stock traded as high as $27.07 and as low as $.50.

The top ETF exchange traded funds that CARA belongs to (by Net Assets): VTI, IWM, VXF, IWN, VTWO.

CARA has underperformed the market in the last year with a price return of -83.6% while the SPY ETF gained +24.2%. However, in the short term, CARA had mixed performance relative to the market. It has outperformed in the last 3 months, returning +17.8% vs +4.6% return in SPY. But in the last 2 weeks, CARA shares have been beat by the market, returning -19.3% compared to an SPY return of -2.7%.

CARA support price is $.65 and resistance is $.76 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CARA stock will trade within this expected range on the day.