Protara Therapeutics, Inc. (NASDAQ:TARA) Short Interest Down 40.1% in March

Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) was the recipient of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 1,780,000 shares, a decline of 40.1% from the February 28th total of 2,970,000 shares. Currently, 9.9% of the company's shares are sold short. Based on an average trading volume of 347,300 shares, the short-interest ratio is presently 5.1 days.

Insiders Place Their Bets

In other news, insider Jacqueline Zummo sold 21,224 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $4.53, for a total value of $96,144.72. Following the completion of the transaction, the insider now owns 98,861 shares in the company, valued at $447,840.33. This represents a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 12.50% of the company's stock.

Hedge Funds Weigh In On Protara Therapeutics

Large investors have recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in shares of Protara Therapeutics during the 3rd quarter worth about $60,000. HBK Investments L P acquired a new stake in Protara Therapeutics during the fourth quarter worth approximately $106,000. Squarepoint Ops LLC bought a new stake in shares of Protara Therapeutics during the fourth quarter worth approximately $110,000. Dimensional Fund Advisors LP acquired a new position in shares of Protara Therapeutics in the fourth quarter valued at approximately $111,000. Finally, Bailard Inc. bought a new position in shares of Protara Therapeutics during the fourth quarter worth approximately $157,000. 38.13% of the stock is owned by institutional investors.

Protara Therapeutics Price Performance

NASDAQ TARA traded up $0.29 during trading on Wednesday, reaching $4.30. 89,740 shares of the company's stock were exchanged, compared to its average volume of 285,952. The business has a 50 day moving average price of $4.24 and a 200-day moving average price of $3.72. The stock has a market capitalization of $158.10 million, a P/E ratio of -1.52 and a beta of 1.69. Protara Therapeutics has a fifty-two week low of $1.60 and a fifty-two week high of $10.48.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last issued its earnings results on Wednesday, March 12th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.09. On average, analysts forecast that Protara Therapeutics will post -3.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TARA has been the topic of a number of research reports. Lifesci Capital assumed coverage on shares of Protara Therapeutics in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $22.00 price objective on the stock. Cantor Fitzgerald began coverage on Protara Therapeutics in a research report on Friday, March 14th. They issued an "overweight" rating on the stock. Guggenheim reissued a "buy" rating and set a $20.00 price target on shares of Protara Therapeutics in a research report on Friday, December 6th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $23.00 price target on shares of Protara Therapeutics in a research report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $22.50.

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.