Protara Therapeutics (NASDAQ:TARA) Announces Earnings Results, Misses Expectations By $0.03 EPS

Protara Therapeutics (NASDAQ:TARA) announced its earnings results on Tuesday. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.03), FiscalAI reports. The business had revenue of $0.18 million for the quarter.

Protara Therapeutics Stock Down 4.9%

Protara Therapeutics stock opened at $3.91 on Wednesday. The stock has a 50-day moving average price of $4.04 and a 200 day moving average price of $5.06. The company has a market capitalization of $219.76 million, a price-to-earnings ratio of -2.92 and a beta of 1.50. Protara Therapeutics has a 52 week low of $2.97 and a 52 week high of $7.82.

Hedge Funds Weigh In On Protara Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in shares of Protara Therapeutics by 21.5% in the 4th quarter. Janus Henderson Group PLC now owns 5,141,616 shares of the company’s stock valued at $27,379,000 after acquiring an additional 910,285 shares during the last quarter. Velan Capital Investment Management LP boosted its holdings in Protara Therapeutics by 32.5% in the fourth quarter. Velan Capital Investment Management LP now owns 2,834,652 shares of the company’s stock valued at $15,109,000 after purchasing an additional 695,652 shares during the last quarter. Integral Health Asset Management LLC boosted its holdings in Protara Therapeutics by 60.7% in the fourth quarter. Integral Health Asset Management LLC now owns 2,250,000 shares of the company’s stock valued at $11,992,000 after purchasing an additional 850,000 shares during the last quarter. Vanguard Group Inc. grew its position in Protara Therapeutics by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,904,156 shares of the company’s stock worth $8,283,000 after purchasing an additional 102,176 shares during the period. Finally, ADAR1 Capital Management LLC grew its position in Protara Therapeutics by 3,127.4% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,136,799 shares of the company’s stock worth $6,059,000 after purchasing an additional 1,101,576 shares during the period. 38.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on TARA shares. Wall Street Zen upgraded Protara Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Oppenheimer lifted their target price on shares of Protara Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. decreased their price target on shares of Protara Therapeutics from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Protara Therapeutics in a research note on Wednesday, May 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Protara Therapeutics in a report on Friday, July 17th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.25.

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.