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

Protara Therapeutics, Inc. (NASDAQ:TARA) was the recipient of a large increase in short interest during the month of 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 trading volume of 179,100 shares, the short-interest ratio is currently 15.3 days.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Protara Therapeutics news, major shareholder Opaleye Management Inc. sold 36,492 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $1.89, for a total value of $68,969.88. Following the sale, the insider now owns 54,600 shares of the company’s stock, valued at $103,194. This trade represents a 40.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Protara Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Oppenheimer & Co. Inc. bought a new stake in Protara Therapeutics in the first quarter valued at about $40,000. Ikarian Capital LLC grew its stake in shares of Protara Therapeutics by 7.4% in the 1st quarter. Ikarian Capital LLC now owns 202,701 shares of the company’s stock valued at $813,000 after purchasing an additional 14,037 shares during the period. Renaissance Technologies LLC raised its holdings 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 worth $313,000 after buying an additional 65,800 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Protara Therapeutics during the 2nd quarter worth approximately $161,000. Finally, Armistice Capital LLC acquired a new stake in Protara Therapeutics in the 2nd quarter valued at $1,082,000. Institutional investors own 38.13% of the company’s stock.

Protara Therapeutics Trading Down 4.3 %

TARA traded down $0.11 on Friday, hitting $2.47. 273,810 shares of the stock traded hands, compared to its average volume of 217,253. The business has a fifty day moving average price of $2.04 and a two-hundred day moving average price of $2.29. The firm has a market capitalization of $50.96 million, a PE ratio of -0.88 and a beta of 1.77. Protara Therapeutics has a 52 week low of $1.04 and a 52 week high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). On average, equities research 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.