Protara Therapeutics (NASDAQ:TARA) Releases Quarterly Earnings Results

Protara Therapeutics (NASDAQ:TARA) released its quarterly earnings results on Tuesday. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.03), FiscalAI reports.

Protara Therapeutics Price Performance

NASDAQ:TARA traded down $0.23 on Tuesday, hitting $3.88. 89,758 shares of the company’s stock were exchanged, compared to its average volume of 836,842. The company has a market cap of $217.78 million, a P/E ratio of -2.89 and a beta of 1.50. The firm has a 50-day moving average price of $4.05 and a 200-day moving average price of $5.07. 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

Large investors have recently modified their holdings of the stock. Engineers Gate Manager LP acquired a new stake in Protara Therapeutics in the 4th quarter worth about $117,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Protara Therapeutics by 26.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,736 shares of the company’s stock worth $111,000 after purchasing an additional 4,383 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Protara Therapeutics in the fourth quarter valued at approximately $110,000. Deutsche Bank AG bought a new stake in shares of Protara Therapeutics in the fourth quarter valued at approximately $134,000. Finally, Two Sigma Investments LP increased its stake in Protara Therapeutics by 35.8% during the 3rd quarter. Two Sigma Investments LP now owns 19,558 shares of the company’s stock worth $85,000 after acquiring an additional 5,154 shares during the period. 38.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Oppenheimer increased their target price on Protara Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Protara Therapeutics in a report on Friday, July 17th. JPMorgan Chase & Co. lowered their price objective on shares of Protara Therapeutics from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Wall Street Zen upgraded shares of Protara Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Protara Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.25.

Protara Therapeutics Company Profile

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.