Protara Therapeutics, Inc. (NASDAQ:TARA) Short Interest Update

Protara Therapeutics, Inc. (NASDAQ:TARA) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 2,740,000 shares, an increase of 18.1% from the October 15th total of 2,320,000 shares. Based on an average daily trading volume, of 179,100 shares, the short-interest ratio is presently 15.3 days.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TARA shares. Oppenheimer reduced their price target on Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. HC Wainwright restated a “buy” rating and issued a $23.00 price target on shares of Protara Therapeutics in a research report on Thursday.

Insider Buying and Selling at Protara Therapeutics

In other Protara Therapeutics news, major shareholder Opaleye Management Inc. sold 32,600 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $1.71, for a total value of $55,746.00. Following the transaction, the insider now directly owns 51,500 shares in the company, valued at approximately $88,065. This trade represents a 38.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TARA. Oppenheimer & Co. Inc. acquired a new stake in shares of Protara Therapeutics in the 1st quarter valued at about $40,000. XTX Topco Ltd acquired a new stake in shares of Protara Therapeutics in the 3rd quarter valued at about $60,000. Marshall Wace LLP acquired a new stake in shares of Protara Therapeutics in the 2nd quarter valued at about $161,000. Geode Capital Management LLC raised its stake in shares of Protara Therapeutics by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock valued at $311,000 after purchasing an additional 29,514 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Protara Therapeutics by 77.8% in the 2nd 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 during the period. 38.13% of the stock is currently owned by institutional investors.

Protara Therapeutics Trading Down 4.3 %

Shares of NASDAQ:TARA traded down $0.11 during midday trading on Friday, hitting $2.47. The company had a trading volume of 273,810 shares, compared to its average volume of 217,253. The firm has a fifty day simple moving average of $2.04 and a 200 day simple moving average of $2.29. The stock has a market cap of $50.96 million, a price-to-earnings ratio of -0.88 and a beta of 1.77. Protara Therapeutics has a 12 month low of $1.04 and a 12 month high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last posted its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). Equities analysts forecast that Protara Therapeutics will post -2.96 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.