Protara Therapeutics, Inc. (NASDAQ:TARA) Short Interest Down 28.4% in February

Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 2,970,000 shares, a drop of 28.4% from the February 13th total of 4,150,000 shares. Based on an average daily volume of 2,310,000 shares, the days-to-cover ratio is currently 1.3 days. Approximately 16.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TARA. HC Wainwright restated a "buy" rating and set a $23.00 price target on shares of Protara Therapeutics in a research note on Thursday, March 6th. Lifesci Capital initiated coverage on Protara Therapeutics in a report on Tuesday, March 11th. They set an "outperform" rating and a $22.00 price objective on the stock. Guggenheim reaffirmed a "buy" rating and set a $20.00 target price on shares of Protara Therapeutics in a report on Friday, December 6th. Finally, Cantor Fitzgerald assumed coverage on shares of Protara Therapeutics in a research report on Friday, March 14th. They issued an "overweight" rating for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $22.50.

Protara Therapeutics Stock Performance

Protara Therapeutics stock traded down $0.09 during midday trading on Thursday, hitting $4.62. 147,792 shares of the company's stock were exchanged, compared to its average volume of 785,019. Protara Therapeutics has a 52-week low of $1.60 and a 52-week high of $10.48. The company has a market cap of $169.86 million, a P/E ratio of -1.64 and a beta of 1.69. The stock has a 50-day moving average price of $4.33 and a two-hundred day moving average price of $3.53.

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Protara Therapeutics (NASDAQ:TARA - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.09. As a group, sell-side analysts expect that Protara Therapeutics will post -3.32 earnings per share for the current year.

Institutional Trading of Protara Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Protara Therapeutics by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 179,593 shares of the company's stock valued at $948,000 after buying an additional 9,553 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Protara Therapeutics by 90.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company's stock valued at $195,000 after acquiring an additional 17,572 shares during the last quarter. HBK Investments L P purchased a new stake in shares of Protara Therapeutics during the fourth quarter worth about $106,000. Squarepoint Ops LLC bought a new stake in shares of Protara Therapeutics in the fourth quarter worth about $110,000. Finally, Dimensional Fund Advisors LP bought a new position in Protara Therapeutics during the 4th quarter valued at approximately $111,000. Institutional investors own 38.13% of the company's stock.

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.