Cara Therapeutics Continues To March Higher

Cara Therapeutics Inc (NASDAQ: CARA) shares are trading higher by $1.03 (7 percent) at $13.26 in Wednesday's session. There is no specific news on the biotech company that has been going in the opposite direction of many of the stocks in its sector.

The issue, which ended 2016 at $9.29, has traded higher in all but five trading sessions so far in 2017, with biggest daily decline being only $0.29, when it fell from its January 18 close $11.89 to $11.60 the following day.

After a flat open, it immediately bottomed just above Tuesday's close ($12.23) at $12.25 and began to move higher. It has continued to make new highs for the day, with the current one standing at $13.29. That marks the highest level for the issue since it peaked on January 13, 2016, at $13.95, but weakened to end that session at $11.31.