Protara Therapeutics, Inc. (NASDAQ:TARA) Short Interest Up 158.6% in April

Protara Therapeutics, Inc. (NASDAQ:TARA) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 1,030,000 shares, a growth of 158.6% from the April 15th total of 398,300 shares. Based on an average trading volume of 290,800 shares, the days-to-cover ratio is presently 3.5 days.

Analyst Ratings Changes

Several analysts have commented on TARA shares. Oppenheimer boosted their target price on shares of Protara Therapeutics from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. HC Wainwright reissued a “buy” rating and set a $23.00 target price on shares of Protara Therapeutics in a research report on Monday, May 6th.

Insider Transactions at Protara Therapeutics

In related news, major shareholder Opaleye Management Inc. sold 30,600 shares of Protara Therapeutics stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $3.09, for a total transaction of $94,554.00. Following the completion of the sale, the insider now owns 2,531,994 shares of the company’s stock, valued at $7,823,861.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 18.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Protara Therapeutics

A hedge fund recently bought a new stake in Protara Therapeutics stock. Oppenheimer & Co. Inc. acquired a new position in shares of Protara Therapeutics, Inc. (NASDAQ:TARA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the company’s stock, valued at approximately $40,000. Oppenheimer & Co. Inc. owned about 0.09% of Protara Therapeutics as of its most recent filing with the Securities and Exchange Commission. 38.13% of the stock is owned by institutional investors and hedge funds.

Protara Therapeutics Trading Up 0.7 %

Protara Therapeutics stock traded up $0.02 during trading hours on Friday, reaching $3.00. 922,419 shares of the company were exchanged, compared to its average volume of 290,105. Protara Therapeutics has a 12 month low of $1.04 and a 12 month high of $5.24. The stock has a 50-day moving average of $3.44 and a 200 day moving average of $2.59. The firm has a market cap of $61.77 million, a price-to-earnings ratio of -0.80 and a beta of 1.80.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.13. As a group, research analysts forecast that Protara Therapeutics will post -3.56 EPS for the current year.

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.