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

Protara Therapeutics, Inc. (NASDAQ:TARA) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 5,888,171 shares, an increase of 57.5% from the May 14th total of 3,739,353 shares. Based on an average daily volume of 953,737 shares, the days-to-cover ratio is presently 6.2 days. Currently, 11.3% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TARA shares. TD Cowen reissued a “buy” rating on shares of Protara Therapeutics in a report on Tuesday, March 10th. UBS Group reaffirmed a “buy” rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Protara Therapeutics in a report on Tuesday, April 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Protara Therapeutics in a report on Wednesday, May 20th. Finally, Wall Street Zen upgraded shares of Protara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

Protara Therapeutics Stock Performance

Shares of NASDAQ:TARA opened at $3.89 on Tuesday. The business has a fifty day moving average of $4.88 and a 200-day moving average of $5.53. Protara Therapeutics has a twelve month low of $2.77 and a twelve month high of $7.82. The firm has a market cap of $218.73 million, a PE ratio of -3.00 and a beta of 1.45.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. On average, analysts anticipate that Protara Therapeutics will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling at Protara Therapeutics

In related news, insider Jacqueline Zummo sold 22,598 shares of Protara Therapeutics stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $5.26, for a total transaction of $118,865.48. Following the sale, the insider directly owned 95,961 shares of the company’s stock, valued at $504,754.86. This trade represents a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.60% of the company’s stock.

Institutional Trading of Protara Therapeutics

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new stake in Protara Therapeutics in the second quarter worth $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Protara Therapeutics in the 2nd quarter valued at $53,000. Persistent Asset Partners Ltd acquired a new stake in Protara Therapeutics during the 4th quarter worth $57,000. AXQ Capital LP acquired a new stake in Protara Therapeutics during the 4th quarter worth $58,000. Finally, The Manufacturers Life Insurance Company bought a new position in Protara Therapeutics during the fourth quarter worth 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.