Protara Therapeutics, Inc. (NASDAQ:TARA) Short Interest Up 18.1% in October

Protara Therapeutics, Inc. (NASDAQ:TARA) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,740,000 shares, an increase of 18.1% from the October 15th total of 2,320,000 shares. Based on an average trading volume of 179,100 shares, the short-interest ratio is currently 15.3 days.

Insider Activity

In related news, major shareholder Opaleye Management Inc. sold 32,600 shares of Protara Therapeutics stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $1.71, for a total transaction of $55,746.00. Following the completion of the transaction, the insider now directly owns 51,500 shares of the company’s stock, valued at approximately $88,065. The trade was a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Protara Therapeutics

Institutional investors have recently made changes to their positions in the stock. Armistice Capital LLC bought a new stake in Protara Therapeutics in the 2nd quarter valued at about $1,082,000. CVI Holdings LLC acquired a new position in shares of Protara Therapeutics during the second quarter worth approximately $630,000. Ikarian Capital LLC grew its holdings in Protara Therapeutics by 7.4% in the 1st quarter. Ikarian Capital LLC now owns 202,701 shares of the company’s stock worth $813,000 after buying an additional 14,037 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Protara Therapeutics by 40.8% in the third quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock worth $328,000 after purchasing an additional 51,944 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Protara Therapeutics by 21.0% in the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock worth $311,000 after purchasing an additional 29,514 shares in the last quarter. 38.13% of the stock is owned by institutional investors.

Protara Therapeutics Price Performance

Protara Therapeutics stock traded down $0.11 during midday trading on Friday, hitting $2.47. 273,810 shares of the stock were exchanged, compared to its average volume of 217,253. The firm has a market cap of $50.96 million, a P/E ratio of -0.88 and a beta of 1.77. The company has a 50 day moving average price of $2.04 and a two-hundred day moving average price of $2.29. Protara Therapeutics has a 1 year low of $1.04 and a 1 year high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). As a group, analysts predict that Protara Therapeutics will post -2.96 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $23.00 price objective on shares of Protara Therapeutics in a research note on Thursday. Oppenheimer decreased their price objective on Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th.

Protara Therapeutics Company Profile

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.