Protara Therapeutics, Inc. (NASDAQ:TARA) Sees Large Decline in Short Interest

Protara Therapeutics, Inc. (NASDAQ:TARA) saw a large decrease in short interest in the month of February. As of February 28th, there was short interest totalling 2,970,000 shares, a decrease of 28.4% from the February 13th total of 4,150,000 shares. Based on an average daily volume of 2,310,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 16.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

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

Protara Therapeutics Stock Performance

Shares of TARA stock opened at $4.31 on Monday. The stock’s 50-day moving average is $4.42 and its two-hundred day moving average is $3.49. The firm has a market cap of $88.92 million, a price-to-earnings ratio of -1.53 and a beta of 1.69. Protara Therapeutics has a 1 year low of $1.60 and a 1 year high of $10.48.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings results on Wednesday, March 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.09. As a group, research analysts predict that Protara Therapeutics will post -3.32 EPS for the current year.

Institutional Investors Weigh In On Protara Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd purchased a new stake in shares of Protara Therapeutics in the third quarter valued at about $60,000. HBK Investments L P purchased a new stake in shares of Protara Therapeutics in the fourth quarter valued at about $106,000. Squarepoint Ops LLC purchased a new stake in shares of Protara Therapeutics in the fourth quarter valued at about $110,000. Dimensional Fund Advisors LP purchased a new stake in shares of Protara Therapeutics in the fourth quarter valued at about $111,000. Finally, Bailard Inc. purchased a new stake in shares of Protara Therapeutics in the fourth quarter valued at about $157,000. 38.13% of the stock is owned by hedge funds and other institutional investors.

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.