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

Protara Therapeutics, Inc. (NASDAQ:TARA) was the recipient of a significant decline in short interest in 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. Based on an average daily volume of 2,310,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 16.5% of the shares of the stock are sold short.

Protara Therapeutics Stock Performance

NASDAQ TARA opened at $4.31 on Monday. The stock’s fifty day moving average is $4.42 and its two-hundred day moving average is $3.49. The firm has a market capitalization of $88.92 million, a P/E ratio of -1.53 and a beta of 1.69. Protara Therapeutics has a fifty-two week low of $1.60 and a fifty-two week high of $10.48.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings results on Wednesday, March 12th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.09. As a group, sell-side analysts forecast that Protara Therapeutics will post -3.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TARA. Guggenheim reiterated a “buy” rating and set a $20.00 price target on shares of Protara Therapeutics in a research report on Friday, December 6th. Cantor Fitzgerald began coverage on Protara Therapeutics in a research report on Friday. They set an “overweight” rating for the company. Lifesci Capital began coverage on Protara Therapeutics in a research report on Tuesday, March 11th. They set an “outperform” rating and a $22.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a research report on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $22.50.

Hedge Funds Weigh In On Protara Therapeutics

Hedge funds have recently bought and sold shares of the company. HBK Investments L P acquired a new position in Protara Therapeutics during the 4th quarter worth about $106,000. Squarepoint Ops LLC acquired a new position in Protara Therapeutics during the 4th quarter worth about $110,000. Dimensional Fund Advisors LP acquired a new position in Protara Therapeutics during the 4th quarter worth about $111,000. Bailard Inc. acquired a new position in Protara Therapeutics during the 4th quarter worth about $157,000. Finally, XTX Topco Ltd purchased a new stake in Protara Therapeutics during the 3rd quarter worth about $60,000. Institutional investors and hedge funds 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.