Protara Therapeutics (NASDAQ:TARA) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Protara Therapeutics (NASDAQ:TARA) announced its quarterly earnings results on Tuesday. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03), FiscalAI reports.

Protara Therapeutics Price Performance

Shares of Protara Therapeutics stock traded down $0.27 during trading hours on Wednesday, reaching $5.44. The company’s stock had a trading volume of 197,898 shares, compared to its average volume of 1,188,947. The firm has a 50 day moving average price of $6.09 and a 200-day moving average price of $5.35. The stock has a market cap of $280.66 million, a P/E ratio of -3.81 and a beta of 1.40. Protara Therapeutics has a one year low of $2.77 and a one year high of $7.82.

Institutional Investors Weigh In On Protara Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of Protara Therapeutics in the 4th quarter valued at approximately $368,000. ADAR1 Capital Management LLC increased its position in shares of Protara Therapeutics by 3,127.4% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,136,799 shares of the company’s stock valued at $6,059,000 after purchasing an additional 1,101,576 shares during the last quarter. XTX Topco Ltd purchased a new stake in Protara Therapeutics during the 4th quarter valued at $615,000. Sphera Funds Management LTD. purchased a new stake in Protara Therapeutics during the 4th quarter valued at $3,464,000. Finally, Quadrature Capital Ltd lifted its position in Protara Therapeutics by 39.4% in the fourth quarter. Quadrature Capital Ltd now owns 24,184 shares of the company’s stock worth $129,000 after buying an additional 6,838 shares during the last quarter. 38.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on TARA. TD Cowen reissued a “buy” rating on shares of Protara Therapeutics in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Protara Therapeutics in a report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Protara Therapeutics in a research report on Thursday, January 22nd. JPMorgan Chase & Co. assumed coverage on Protara Therapeutics in a report on Wednesday, March 4th. They set an “overweight” rating and a $27.00 price target for the company. Finally, Piper Sandler assumed coverage on Protara Therapeutics in a research note on Wednesday, January 7th. They issued an “overweight” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.40.

Protara Therapeutics Company Profile

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.