Investors Purchase Large Volume of Call Options on Protara Therapeutics (NASDAQ:TARA)

Protara Therapeutics, Inc. (NASDAQ:TARA) was the target of some unusual options trading activity on Friday. Traders purchased 5,005 call options on the company. This represents an increase of 1,597% compared to the average volume of 295 call options.

Protara Therapeutics Stock Down 3.3%

NASDAQ TARA traded down $0.18 during midday trading on Friday, hitting $5.13. The company had a trading volume of 902,503 shares, compared to its average volume of 948,495. The stock has a market cap of $282.18 million, a price-to-earnings ratio of -3.84 and a beta of 1.53. The firm has a fifty day simple moving average of $5.29 and a two-hundred day simple moving average of $5.70. Protara Therapeutics has a fifty-two week low of $2.77 and a fifty-two week high of $7.82.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.05. As a group, equities analysts predict that Protara Therapeutics will post -1.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TARA. JPMorgan Chase & Co. decreased their price target on shares of Protara Therapeutics from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Protara Therapeutics in a research report on Tuesday, April 21st. HC Wainwright raised their price target on shares of Protara Therapeutics from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, TD Cowen restated a “buy” rating on shares of Protara Therapeutics in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Protara Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $24.50.

Insider Transactions at Protara Therapeutics

In related news, insider Jacqueline Zummo sold 22,598 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $5.26, for a total value of $118,865.48. Following the transaction, the insider directly owned 95,961 shares in the company, valued at approximately $504,754.86. This trade represents a 19.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 7.60% of the company’s stock.

Institutional Trading of Protara Therapeutics

Several institutional investors have recently made changes to their positions in TARA. JPMorgan Chase & Co. acquired a new stake in shares of Protara Therapeutics during the 2nd quarter valued at about $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Protara Therapeutics during the 2nd quarter valued at about $53,000. Persistent Asset Partners Ltd acquired a new stake in shares of Protara Therapeutics during the 4th quarter valued at about $57,000. AXQ Capital LP acquired a new stake in shares of Protara Therapeutics during the 4th quarter valued at about $58,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Protara Therapeutics during the 4th quarter valued at about $59,000. 38.13% of the stock is currently owned by institutional investors and hedge funds.

About Protara Therapeutics

Protara Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies for virus-driven cancers. The company’s primary areas of research include human papillomavirus (HPV)–associated malignancies, where it seeks to harness and enhance the body’s immune response to target tumor cells. Protara’s therapeutic strategy combines antigen-specific vaccination approaches with modulators of T-cell activation to improve clinical outcomes in patients with HPV-mediated disease.

Protara’s lead immunotherapy candidate is PTX-35, an investigational monoclonal antibody designed to agonize OX40, a co-stimulatory receptor on T cells.