Analysts Set Protara Therapeutics, Inc. (NASDAQ:TARA) Price Target at $21.40

Protara Therapeutics, Inc. (NASDAQ:TARA) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $21.40.

TARA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. began coverage on Protara Therapeutics in a research report on Wednesday, March 4th. They issued an “overweight” rating and a $27.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a research report on Tuesday, February 10th. Piper Sandler began coverage on Protara Therapeutics in a research report on Wednesday, January 7th. They set an “overweight” rating and a $24.00 price target on the stock. TD Cowen restated a “buy” rating on shares of Protara Therapeutics in a research report on Tuesday, March 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Protara Therapeutics in a research report on Thursday, January 22nd.

Protara Therapeutics Stock Performance

Shares of TARA stock opened at $5.14 on Wednesday. The firm has a market cap of $277.97 million, a P/E ratio of -3.89 and a beta of 1.50. Protara Therapeutics has a fifty-two week low of $2.77 and a fifty-two week high of $7.82. The business’s 50 day moving average price is $5.95 and its 200-day moving average price is $5.64.

Protara Therapeutics (NASDAQ:TARA) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.03). As a group, equities analysts predict that Protara Therapeutics will post -3.32 EPS for the current year.

Insider Buying and Selling at Protara Therapeutics

In related news, insider Jacqueline Zummo sold 22,598 shares of Protara Therapeutics stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $5.26, for a total transaction of $118,865.48. Following the sale, the insider directly owned 95,961 shares in the company, valued at $504,754.86. The trade was a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Protara Therapeutics

Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Protara Therapeutics during the fourth quarter valued at approximately $368,000. ADAR1 Capital Management LLC boosted its position in shares of Protara Therapeutics by 3,127.4% during the fourth 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 in the last quarter. XTX Topco Ltd bought a new stake in shares of Protara Therapeutics during the fourth quarter valued at approximately $615,000. Sphera Funds Management LTD. bought a new stake in shares of Protara Therapeutics during the fourth quarter valued at approximately $3,464,000. Finally, Quadrature Capital Ltd boosted its position in shares of Protara Therapeutics by 39.4% during the fourth quarter. Quadrature Capital Ltd now owns 24,184 shares of the company’s stock valued at $129,000 after purchasing an additional 6,838 shares in the last quarter. 38.13% of the stock is currently owned by institutional investors.

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.