Stock Traders Buy High Volume of Protara Therapeutics Call Options (NASDAQ:TARA)

Protara Therapeutics, Inc. (NASDAQ:TARA) was the recipient of some unusual options trading activity on Tuesday. Investors acquired 4,399 call options on the stock. This represents an increase of approximately 4,899% compared to the average volume of 88 call options.

TARA opened at $7.39 on Thursday. Protara Therapeutics has a fifty-two week low of $6.18 and a fifty-two week high of $27.51. The firm has a market capitalization of $83.03 million, a PE ratio of -1.68 and a beta of 0.71. The company’s 50-day moving average is $7.31 and its 200 day moving average is $9.51.

Protara Therapeutics (NASDAQ:TARA) last posted its earnings results on Thursday, August 5th. The company reported ($1.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.00) by ($0.14). Sell-side analysts predict that Protara Therapeutics will post -4.49 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Panagora Asset Management Inc. purchased a new stake in Protara Therapeutics in the 1st quarter valued at about $93,000. Ergoteles LLC purchased a new stake in Protara Therapeutics in the 2nd quarter valued at about $172,000. Susquehanna International Group LLP purchased a new stake in Protara Therapeutics in the 2nd quarter valued at about $201,000. Knott David M increased its stake in Protara Therapeutics by 151.7% in the 2nd quarter. Knott David M now owns 36,164 shares of the company’s stock valued at $352,000 after buying an additional 21,795 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Protara Therapeutics in the 1st quarter valued at about $371,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

TARA has been the topic of several research reports. Bank of America initiated coverage on shares of Protara Therapeutics in a report on Monday, August 30th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of Protara Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, October 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $36.50.

About Protara Therapeutics

Protara Therapeutics, Inc is a clinical-stage company engages in developing treatments for rare and specialty diseases with significant unmet needs. Its current development programs focus on the treatment of rare diseases in structural and connective tissues and rare hepatology, gastrointestinal, and metabolic disorders.

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