Protara Therapeutics, Inc. (NASDAQ:TARA) Sees Significant Drop in Short Interest

Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 4,400,000 shares, a decrease of 13.7% from the December 31st total of 5,100,000 shares. Based on an average trading volume of 2,270,000 shares, the days-to-cover ratio is presently 1.9 days.

Hedge Funds Weigh In On Protara Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in Protara Therapeutics by 77.8% in the second quarter. Renaissance Technologies LLC now owns 150,400 shares of the company's stock valued at $313,000 after purchasing an additional 65,800 shares in the last quarter. Marshall Wace LLP acquired a new stake in Protara Therapeutics in the 2nd quarter valued at $161,000. Oppenheimer & Co. Inc. boosted its position in Protara Therapeutics by 40.8% during the third quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company's stock valued at $328,000 after purchasing an additional 51,944 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Protara Therapeutics in the third quarter valued at $60,000. Finally, Geode Capital Management LLC increased its stake in shares of Protara Therapeutics by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 170,040 shares of the company's stock worth $311,000 after purchasing an additional 29,514 shares during the last quarter. Institutional investors own 38.13% of the company's stock.

Protara Therapeutics Stock Performance

TARA traded down $0.11 during midday trading on Wednesday, hitting $5.01. The company had a trading volume of 171,144 shares, compared to its average volume of 334,408. Protara Therapeutics has a twelve month low of $1.60 and a twelve month high of $10.48. The firm's 50-day simple moving average is $5.04 and its 200-day simple moving average is $3.13. The company has a market capitalization of $103.25 million, a PE ratio of -1.77 and a beta of 1.64.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last posted 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). As a group, sell-side analysts anticipate that Protara Therapeutics will post -3.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TARA has been the topic of several research reports. HC Wainwright restated a "buy" rating and set a $23.00 price objective on shares of Protara Therapeutics in a report on Friday, December 6th. Guggenheim reaffirmed a "buy" rating and issued a $20.00 target price on shares of Protara Therapeutics in a report on Friday, December 6th.

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.