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

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

Insiders Place Their Bets

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $4.53, for a total value of $96,144.72. Following the transaction, the insider now owns 98,861 shares in the company, valued at approximately $447,840.33. This represents a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Protara Therapeutics

A number of large investors have recently modified their holdings of TARA. Janus Henderson Group PLC bought a new position in shares of Protara Therapeutics during the 4th quarter valued at $11,938,000. Adage Capital Partners GP L.L.C. purchased a new stake in Protara Therapeutics during the fourth quarter valued at about $11,880,000. Toronto Dominion Bank bought a new position in shares of Protara Therapeutics during the fourth quarter valued at about $11,030,000. Blackstone Inc. purchased a new position in shares of Protara Therapeutics in the fourth quarter worth about $8,870,000. Finally, RA Capital Management L.P. lifted its stake 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 acquiring an additional 1,500,000 shares during the last quarter. 38.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TARA has been the topic of several recent analyst reports. Cantor Fitzgerald assumed coverage on Protara Therapeutics in a research note on Friday, March 14th. They set an “overweight” rating on the stock. Lifesci Capital initiated coverage on shares of Protara Therapeutics in a research report on Tuesday, March 11th. They set an “outperform” rating and a $22.00 price target on the stock. Guggenheim reiterated a “buy” rating and issued a $20.00 price objective on shares of Protara Therapeutics in a research note on Friday, December 6th. Finally, HC Wainwright restated a “buy” rating and issued a $23.00 target price on shares of Protara Therapeutics in a research note on Thursday, March 6th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $22.50.

Protara Therapeutics Stock Down 5.8 %

Shares of TARA stock traded down $0.27 during trading on Monday, hitting $4.32. The company had a trading volume of 81,279 shares, compared to its average volume of 790,281. Protara Therapeutics has a 52 week low of $1.60 and a 52 week high of $10.48. The stock has a market capitalization of $158.65 million, a price-to-earnings ratio of -1.52 and a beta of 1.69. The stock’s 50-day moving average is $4.27 and its two-hundred day moving average is $3.68.

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

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.