Protara Therapeutics (NASDAQ:TARA) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Protara Therapeutics (NASDAQ:TARA) in a research note issued on Wednesday,Benzinga reports. The firm set an “overweight” rating and a $27.00 price target on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 339.02% from the company’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler initiated coverage on Protara Therapeutics in a research report on Wednesday, January 7th. They issued an “overweight” rating and a $24.00 target price for the company. HC Wainwright reiterated a “buy” rating and issued a $23.00 price objective on shares of Protara Therapeutics in a report on Tuesday, February 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Protara Therapeutics in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Protara Therapeutics Trading Up 3.0%

Shares of TARA opened at $6.15 on Wednesday. Protara Therapeutics has a 1-year low of $2.77 and a 1-year high of $7.82. The firm’s 50-day moving average price is $6.05 and its 200-day moving average price is $5.25. The firm has a market capitalization of $317.52 million, a price-to-earnings ratio of -4.30 and a beta of 1.40.

Institutional Investors Weigh In On Protara Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of Protara Therapeutics during the fourth quarter valued at $368,000. ADAR1 Capital Management LLC grew its position in 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 about $615,000. Sphera Funds Management LTD. bought a new stake in Protara Therapeutics during the 4th quarter valued at about $3,464,000. Finally, Quadrature Capital Ltd raised its holdings 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.

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.