Protara Therapeutics, Inc. (NASDAQ:TARA) Short Interest Up 57.5% in May

Protara Therapeutics, Inc. (NASDAQ:TARA) saw a large growth in short interest in May. As of May 29th, there was short interest totaling 5,888,171 shares, a growth 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.

Insider Buying and Selling at Protara Therapeutics

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

Institutional Investors Weigh In On Protara Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. acquired a new position in Protara Therapeutics in the second quarter valued at about $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Protara Therapeutics in the second quarter valued at about $53,000. Persistent Asset Partners Ltd acquired a new position in Protara Therapeutics in the fourth quarter valued at about $57,000. AXQ Capital LP acquired a new position in Protara Therapeutics in the fourth quarter valued at about $58,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Protara Therapeutics in the fourth quarter valued at about $59,000. 38.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TARA. Cantor Fitzgerald reiterated an “overweight” rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. UBS Group reiterated a “buy” rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. Wall Street Zen upgraded Protara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, TD Cowen reiterated a “buy” rating on shares of Protara Therapeutics in a research report on Tuesday, March 10th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.25.

Protara Therapeutics Stock Down 3.3%

TARA stock opened at $3.81 on Wednesday. The company has a market cap of $214.12 million, a P/E ratio of -2.84 and a beta of 1.45. Protara Therapeutics has a twelve month low of $2.77 and a twelve month high of $7.82. The business has a fifty day moving average of $4.85 and a 200-day moving average of $5.50.

Protara Therapeutics (NASDAQ:TARA) last released its earnings results on Wednesday, May 13th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. As a group, equities research analysts anticipate that Protara Therapeutics will post -1.45 earnings per share for the current fiscal year.

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.