Protara Therapeutics, Inc. (NASDAQ:TARA) Sees Significant Growth in Short Interest

Protara Therapeutics, Inc. (NASDAQ:TARA) was the target of a significant increase in short interest in 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 daily volume of 2,200,000 shares, the short-interest ratio is currently 2.5 days.

Institutional Investors Weigh In On Protara Therapeutics

Several institutional investors have recently bought and sold shares of TARA. Geode Capital Management LLC lifted its holdings in shares of Protara Therapeutics by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock valued at $311,000 after acquiring an additional 29,514 shares in the last quarter. XTX Topco Ltd purchased a new position in Protara Therapeutics in the third quarter valued at about $60,000. Oppenheimer & Co. Inc. boosted its position 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 buying an additional 51,944 shares during the period. Renaissance Technologies LLC grew its stake 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 buying an additional 65,800 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Protara Therapeutics during the 2nd quarter valued at about $161,000. 38.13% of the stock is currently owned by hedge funds and other institutional investors.

Protara Therapeutics Stock Performance

Protara Therapeutics stock traded up $0.01 during midday trading on Friday, reaching $5.51. The stock had a trading volume of 347,904 shares, compared to its average volume of 741,171. The stock’s 50-day simple moving average is $3.59 and its 200 day simple moving average is $2.59. Protara Therapeutics has a twelve month low of $1.60 and a twelve month high of $10.48. The stock has a market capitalization of $113.67 million, a PE ratio of -1.95 and a beta of 1.78.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50). Equities analysts predict that Protara Therapeutics will post -2.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TARA has been the topic of a number of research analyst reports. Guggenheim reissued a “buy” rating and issued a $20.00 price target on shares of Protara Therapeutics in a research note on Friday, December 6th. HC Wainwright reissued a “buy” rating and issued a $23.00 target price on shares of Protara Therapeutics in a research report on Friday, December 6th.

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.