Protara Therapeutics, Inc. (NASDAQ:TARA – Get Free Report) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 2,970,000 shares, a decline of 28.4% from the February 13th total of 4,150,000 shares. Currently, 16.5% of the shares of the company are sold short. Based on an average daily volume of 2,310,000 shares, the short-interest ratio is currently 1.3 days.
Analyst Ratings Changes
A number of research analysts recently issued reports on TARA shares. Lifesci Capital started coverage on shares of Protara Therapeutics in a research report on Tuesday, March 11th. They set an “outperform” rating and a $22.00 target price for the company. Guggenheim reiterated a “buy” rating and issued a $20.00 price objective on shares of Protara Therapeutics in a research report on Friday, December 6th. Cantor Fitzgerald initiated coverage on shares of Protara Therapeutics in a research report on Friday. They issued an “overweight” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and issued a $23.00 price objective on shares of Protara Therapeutics in a research report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $22.50.
Read Our Latest Stock Analysis on TARA
Protara Therapeutics Stock Up 7.2 %
Protara Therapeutics (NASDAQ:TARA – Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.09. Sell-side analysts expect that Protara Therapeutics will post -3.32 earnings per share for the current year.
Institutional Investors Weigh In On Protara Therapeutics
A number of hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC acquired a new stake in shares of Protara Therapeutics in the 4th quarter valued at $11,938,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Protara Therapeutics in the 4th quarter valued at $11,880,000. Toronto Dominion Bank acquired a new stake in shares of Protara Therapeutics in the 4th quarter valued at $11,030,000. Blackstone Inc. acquired a new stake in shares of Protara Therapeutics in the 4th quarter valued at $8,870,000. Finally, RA Capital Management L.P. grew its position in shares of Protara Therapeutics by 78.9% in the 4th quarter. RA Capital Management L.P. now owns 3,400,000 shares of the company’s stock valued at $17,952,000 after buying an additional 1,500,000 shares during the last quarter. 38.13% of the stock is currently owned by institutional investors and hedge funds.
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.
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