Protara Therapeutics (NASDAQ:TARA) Shares Up 2.3% – Here’s Why

Protara Therapeutics, Inc. (NASDAQ:TARA)’s stock price traded up 2.3% on Friday . The company traded as high as $6.89 and last traded at $6.65. 613,431 shares were traded during trading, a decline of 44% from the average session volume of 1,102,347 shares. The stock had previously closed at $6.50.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $23.00 price target on shares of Protara Therapeutics in a research report on Wednesday, December 3rd. Piper Sandler began coverage on shares of Protara Therapeutics in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $24.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Protara Therapeutics in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.40.

Protara Therapeutics Price Performance

The company has a 50 day moving average of $5.84 and a 200-day moving average of $4.84. The company has a market cap of $343.34 million, a P/E ratio of -4.65 and a beta of 1.38.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.08. Research analysts anticipate that Protara Therapeutics, Inc. will post -3.32 EPS for the current year.

Hedge Funds Weigh In On Protara Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TARA. Rhumbline Advisers raised its position in shares of Protara Therapeutics by 8.2% during the 3rd quarter. Rhumbline Advisers now owns 34,137 shares of the company’s stock valued at $148,000 after buying an additional 2,596 shares in the last quarter. Two Sigma Investments LP grew its position in Protara Therapeutics by 35.8% in the third quarter. Two Sigma Investments LP now owns 19,558 shares of the company’s stock worth $85,000 after acquiring an additional 5,154 shares in the last quarter. Bailard Inc. increased its stake in Protara Therapeutics by 23.2% in the third quarter. Bailard Inc. now owns 36,669 shares of the company’s stock valued at $160,000 after acquiring an additional 6,900 shares during the last quarter. GSA Capital Partners LLP raised its position in Protara Therapeutics by 9.0% during the third quarter. GSA Capital Partners LLP now owns 101,488 shares of the company’s stock valued at $441,000 after purchasing an additional 8,375 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in Protara Therapeutics in the second quarter worth $30,000. Hedge funds and other institutional investors own 38.13% of the company’s stock.

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.