Protara Therapeutics, Inc. (NASDAQ:TARA) Short Interest Up 18.1% in October

Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 2,740,000 shares, an increase of 18.1% from the October 15th total of 2,320,000 shares. Based on an average daily trading volume, of 179,100 shares, the short-interest ratio is presently 15.3 days.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TARA shares. HC Wainwright restated a "buy" rating and issued a $23.00 price objective on shares of Protara Therapeutics in a research report on Thursday. Oppenheimer decreased their price target on shares of Protara Therapeutics from $30.00 to $25.00 and set an "outperform" rating on the stock in a research note on Monday, August 12th.

Insider Buying and Selling at Protara Therapeutics

In related news, major shareholder Opaleye Management Inc. sold 32,600 shares of Protara Therapeutics stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $1.71, for a total transaction of $55,746.00. Following the completion of the transaction, the insider now directly owns 51,500 shares in the company, valued at $88,065. The trade was a 38.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Protara Therapeutics

A number of large investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. purchased a new position in shares of Protara Therapeutics in the 1st quarter worth about $40,000. Renaissance Technologies LLC raised its holdings 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 buying an additional 65,800 shares during the period. Marshall Wace LLP purchased a new position in Protara Therapeutics in the second quarter valued at approximately $161,000. CVI Holdings LLC acquired a new position in Protara Therapeutics during the second quarter valued at approximately $630,000. Finally, Ikarian Capital LLC grew its stake in Protara Therapeutics by 7.4% during the first quarter. Ikarian Capital LLC now owns 202,701 shares of the company's stock worth $813,000 after buying an additional 14,037 shares during the period. Hedge funds and other institutional investors own 38.13% of the company's stock.

Protara Therapeutics Trading Down 4.3 %

Shares of Protara Therapeutics stock traded down $0.11 during trading hours on Friday, reaching $2.47. 273,810 shares of the company's stock were exchanged, compared to its average volume of 217,253. The firm has a market capitalization of $50.96 million, a price-to-earnings ratio of -0.88 and a beta of 1.77. Protara Therapeutics has a 52-week low of $1.04 and a 52-week high of $5.24. The company has a fifty day moving average of $2.04 and a 200-day moving average of $2.29.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.50). On average, equities research analysts anticipate that Protara Therapeutics will post -2.96 earnings per share for the current fiscal year.

Protara Therapeutics Company Profile

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.