Protara Therapeutics, Inc. (NASDAQ:TARA) Short Interest Down 28.4% in February

Protara Therapeutics, Inc. (NASDAQ:TARA) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 2,970,000 shares, a decline of 28.4% from the February 13th total of 4,150,000 shares. Currently, 16.5% of the shares of the stock are sold short. Based on an average daily volume of 2,310,000 shares, the short-interest ratio is presently 1.3 days.

Hedge Funds Weigh In On Protara Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new position in Protara Therapeutics during the 4th quarter worth approximately $11,030,000. Velan Capital Investment Management LP grew its position in Protara Therapeutics by 175.1% during the 4th quarter. Velan Capital Investment Management LP now owns 1,579,000 shares of the company’s stock worth $8,337,000 after purchasing an additional 1,005,000 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Protara Therapeutics during the 4th quarter worth approximately $110,000. Millennium Management LLC grew its position in Protara Therapeutics by 2,479.2% during the 4th quarter. Millennium Management LLC now owns 371,453 shares of the company’s stock worth $1,961,000 after purchasing an additional 357,051 shares in the last quarter. Finally, Integral Health Asset Management LLC purchased a new position in Protara Therapeutics during the 4th quarter worth approximately $7,392,000. 38.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TARA has been the topic of several recent analyst reports. Cantor Fitzgerald initiated coverage on Protara Therapeutics in a report on Friday. They set an “overweight” rating on the stock. Guggenheim reissued a “buy” rating and set a $20.00 target price on shares of Protara Therapeutics in a report on Friday, December 6th. HC Wainwright reissued a “buy” rating and set a $23.00 target price on shares of Protara Therapeutics in a report on Thursday, March 6th. Finally, Lifesci Capital initiated coverage on Protara Therapeutics in a report on Tuesday, March 11th. They set an “outperform” rating and a $22.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Protara Therapeutics has an average rating of “Buy” and an average price target of $22.50.

Protara Therapeutics Price Performance

Shares of NASDAQ:TARA traded down $0.13 on Tuesday, reaching $4.29. 57,086 shares of the company traded hands, compared to its average volume of 784,673. Protara Therapeutics has a fifty-two week low of $1.60 and a fifty-two week high of $10.48. The company’s 50 day moving average is $4.39 and its 200-day moving average is $3.51. The stock has a market capitalization of $88.50 million, a PE ratio of -1.52 and a beta of 1.69.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data on Wednesday, March 12th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.09. As a group, analysts expect that Protara Therapeutics will post -3.32 EPS for the current 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.