Protara Therapeutics, Inc. (NASDAQ:TARA) Short Interest Update

Protara Therapeutics, Inc. (NASDAQ:TARA) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 2,740,000 shares, an increase of 18.1% from the October 15th total of 2,320,000 shares. Based on an average trading volume of 179,100 shares, the short-interest ratio is currently 15.3 days.

Insider Buying and Selling at Protara Therapeutics

In other news, major shareholder Opaleye Management Inc. sold 32,600 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $1.71, for a total value of $55,746.00. Following the sale, the insider now owns 51,500 shares in the company, valued at approximately $88,065. The trade was a 38.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Protara Therapeutics

A number of institutional investors have recently bought and sold shares of TARA. Oppenheimer & Co. Inc. bought a new position in shares of Protara Therapeutics during the 1st quarter worth approximately $40,000. Renaissance Technologies LLC raised its position in shares of Protara Therapeutics by 77.8% in the second quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock valued at $313,000 after purchasing an additional 65,800 shares during the period. Marshall Wace LLP acquired a new stake in shares of Protara Therapeutics during the 2nd quarter worth about $161,000. CVI Holdings LLC bought a new stake in shares of Protara Therapeutics during the 2nd quarter worth about $630,000. Finally, Ikarian Capital LLC grew its stake in Protara Therapeutics by 7.4% in the 1st quarter. Ikarian Capital LLC now owns 202,701 shares of the company’s stock valued at $813,000 after buying an additional 14,037 shares during the last quarter. Institutional investors and hedge funds own 38.13% of the company’s stock.

Protara Therapeutics Stock Performance

Protara Therapeutics stock traded down $0.11 during midday trading on Friday, reaching $2.47. The stock had a trading volume of 273,810 shares, compared to its average volume of 230,296. Protara Therapeutics has a 1-year low of $1.04 and a 1-year high of $5.24. The firm’s fifty day simple moving average is $2.04 and its 200-day simple moving average is $2.29. The stock has a market capitalization of $50.96 million, a P/E ratio of -0.88 and a beta of 1.77.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). On average, sell-side analysts anticipate that Protara Therapeutics will post -2.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price objective on shares of Protara Therapeutics in a research note on Thursday. Oppenheimer decreased their price objective on Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th.

About Protara Therapeutics

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.