Short Interest in Protara Therapeutics, Inc. (NASDAQ:TARA) Expands By 79.1%

Protara Therapeutics, Inc. (NASDAQ:TARA) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 5,410,000 shares, an increase of 79.1% from the November 30th total of 3,020,000 shares. Based on an average trading volume of 2,200,000 shares, the days-to-cover ratio is presently 2.5 days.

Protara Therapeutics Stock Performance

Shares of NASDAQ TARA traded up $0.01 during midday trading on Friday, hitting $5.51. 347,904 shares of the company’s stock traded hands, compared to its average volume of 741,171. Protara Therapeutics has a 1 year low of $1.60 and a 1 year high of $10.48. The stock has a market capitalization of $113.67 million, a price-to-earnings ratio of -1.95 and a beta of 1.78. The firm has a fifty day moving average of $3.59 and a 200 day moving average of $2.59.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of Protara Therapeutics in a research report on Friday, December 6th. Guggenheim reissued a “buy” rating and set a $20.00 price target on shares of Protara Therapeutics in a report on Friday, December 6th.

Institutional Trading of Protara Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TARA. XTX Topco Ltd purchased a new position in shares of Protara Therapeutics during the 3rd quarter valued at about $60,000. Renaissance Technologies LLC lifted its holdings in Protara Therapeutics by 77.8% during 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 in the last quarter. Marshall Wace LLP bought a new position in shares of Protara Therapeutics in the second quarter worth approximately $161,000. Oppenheimer & Co. Inc. increased its stake in shares of Protara Therapeutics by 40.8% in the third quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock worth $328,000 after purchasing an additional 51,944 shares in the last quarter. Finally, CVI Holdings LLC bought a new stake in shares of Protara Therapeutics during the 2nd quarter valued at $630,000. Hedge funds and other institutional investors own 38.13% of the company’s stock.

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.