Protara Therapeutics, Inc. (NASDAQ:TARA) Short Interest Down 40.1% in March

Protara Therapeutics, Inc. (NASDAQ:TARA) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 1,780,000 shares, a decrease of 40.1% from the February 28th total of 2,970,000 shares. Currently, 9.9% of the company’s shares are short sold. Based on an average trading volume of 347,300 shares, the days-to-cover ratio is currently 5.1 days.

Protara Therapeutics Trading Down 5.8 %

NASDAQ TARA traded down $0.27 during midday trading on Monday, hitting $4.32. The company had a trading volume of 81,279 shares, compared to its average volume of 790,281. The company has a market capitalization of $158.65 million, a PE ratio of -1.52 and a beta of 1.69. Protara Therapeutics has a twelve month low of $1.60 and a twelve month high of $10.48. The firm has a 50-day moving average price of $4.27 and a 200-day moving average price of $3.68.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data on Wednesday, March 12th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.09. On average, equities analysts anticipate that Protara Therapeutics will post -3.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Guggenheim restated a “buy” rating and issued a $20.00 price target on shares of Protara Therapeutics in a report on Friday, December 6th. Cantor Fitzgerald started coverage on shares of Protara Therapeutics in a report on Friday, March 14th. They set an “overweight” rating on the stock. Lifesci Capital assumed coverage on shares of Protara Therapeutics in a research report on Tuesday, March 11th. They set an “outperform” rating and a $22.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Protara Therapeutics in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.50.

Insider Activity

In related news, insider Jacqueline Zummo sold 21,224 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $4.53, for a total transaction of $96,144.72. Following the completion of the transaction, the insider now owns 98,861 shares in the company, valued at approximately $447,840.33. The trade was a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Protara Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TARA. XTX Topco Ltd bought a new position in Protara Therapeutics during the 3rd quarter worth approximately $60,000. Geode Capital Management LLC raised its stake in Protara Therapeutics by 21.0% during the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock worth $311,000 after buying an additional 29,514 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Protara Therapeutics by 12.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 201,426 shares of the company’s stock valued at $1,064,000 after buying an additional 22,301 shares during the period. Bailard Inc. bought a new stake in Protara Therapeutics during the fourth quarter valued at $157,000. Finally, Commonwealth Equity Services LLC grew its holdings in Protara Therapeutics by 90.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company’s stock worth $195,000 after acquiring an additional 17,572 shares during the period. 38.13% of the stock is currently owned by institutional investors and hedge funds.

Protara Therapeutics Company Profile

Protara Therapeutics, Inc, a clinical-stage biopharmaceutical company, engages in advancing transformative therapies for the treatment of cancer and rare diseases. The company's lead program is TARA-002, an investigational cell therapy, which is in Phase II clinical trial for the treatment of non-muscle invasive bladder cancer and lymphatic malformations.