Short Interest in Protara Therapeutics, Inc. (NASDAQ:TARA) Rises By 18.1%

by · The Markets Daily

Protara Therapeutics, Inc. (NASDAQ:TARA – Get Free Report) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,740,000 shares, a growth of 18.1% from the October 15th total of 2,320,000 shares. Based on an average daily volume of 179,100 shares, the days-to-cover ratio is currently 15.3 days.

Insider Buying and Selling

In related news, major shareholder Opaleye Management Inc. sold 32,600 shares of Protara Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $1.71, for a total value of $55,746.00. Following the completion of the transaction, the insider now owns 51,500 shares in the company, valued at approximately $88,065. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Protara Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in TARA. Oppenheimer & Co. Inc. purchased a new position in shares of Protara Therapeutics during the first quarter worth about $40,000. XTX Topco Ltd acquired a new position in Protara Therapeutics during the 3rd quarter worth approximately $60,000. Marshall Wace LLP purchased a new position in shares of Protara Therapeutics during the 2nd quarter worth approximately $161,000. Geode Capital Management LLC boosted its stake in shares of Protara Therapeutics by 21.0% in the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock valued at $311,000 after buying an additional 29,514 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Protara Therapeutics by 77.8% during the second quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $313,000 after acquiring an additional 65,800 shares during the period. 38.13% of the stock is owned by hedge funds and other institutional investors.

Protara Therapeutics Stock Down 4.3 %

TARA traded down $0.11 on Friday, reaching $2.47. The company’s stock had a trading volume of 273,810 shares, compared to its average volume of 217,253. Protara Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $5.24. The stock has a 50 day moving average of $2.04 and a two-hundred day moving average of $2.29. The company has a market capitalization of $50.96 million, a price-to-earnings ratio of -0.88 and a beta of 1.77.

Protara Therapeutics (NASDAQ:TARA – Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, meeting analysts’ consensus estimates of ($0.50). As a group, analysts anticipate that Protara Therapeutics will post -2.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Oppenheimer cut their target price on shares of Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. HC Wainwright reissued a “buy” rating and issued a $23.00 target price on shares of Protara Therapeutics in a report on Thursday.

Check Out Our Latest Report on Protara Therapeutics

About Protara Therapeutics

(Get Free Report)

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.

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