Protara Therapeutics (NASDAQ:TARA) Issues Earnings Results

Protara Therapeutics (NASDAQ:TARA) released its quarterly earnings data on Wednesday. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05, FiscalAI reports.

Protara Therapeutics Stock Down 1.7%

Shares of TARA traded down $0.09 during trading hours on Thursday, reaching $5.11. 158,291 shares of the company traded hands, compared to its average volume of 945,576. Protara Therapeutics has a 12 month low of $2.77 and a 12 month high of $7.82. The company’s fifty day moving average price is $5.31 and its two-hundred day moving average price is $5.70. The company has a market capitalization of $281.36 million, a price-to-earnings ratio of -3.84 and a beta of 1.53.

Insider Transactions at Protara Therapeutics

In other Protara Therapeutics news, insider Jacqueline Zummo sold 22,598 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $5.26, for a total value of $118,865.48. Following the completion of the sale, the insider directly owned 95,961 shares in the company, valued at $504,754.86. This trade represents a 19.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 7.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in Protara Therapeutics by 21.5% in the fourth quarter. Janus Henderson Group PLC now owns 5,141,616 shares of the company’s stock worth $27,379,000 after purchasing an additional 910,285 shares during the period. Velan Capital Investment Management LP increased its stake in shares of Protara Therapeutics by 32.5% in the 4th quarter. Velan Capital Investment Management LP now owns 2,834,652 shares of the company’s stock worth $15,109,000 after acquiring an additional 695,652 shares in the last quarter. Integral Health Asset Management LLC lifted its position in Protara Therapeutics by 60.7% during the 4th quarter. Integral Health Asset Management LLC now owns 2,250,000 shares of the company’s stock valued at $11,992,000 after acquiring an additional 850,000 shares during the period. Vanguard Group Inc. increased its stake in shares of Protara Therapeutics by 5.7% during the third quarter. Vanguard Group Inc. now owns 1,904,156 shares of the company’s stock valued at $8,283,000 after purchasing an additional 102,176 shares in the last quarter. Finally, ADAR1 Capital Management LLC lifted its holdings 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 during the last quarter. Hedge funds and other institutional investors own 38.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TARA has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Protara Therapeutics in a research note on Tuesday, April 21st. JPMorgan Chase & Co. initiated coverage on Protara Therapeutics in a research report on Wednesday, March 4th. They set an “overweight” rating and a $27.00 price target for the company. TD Cowen reiterated a “buy” rating on shares of Protara Therapeutics in a report on Tuesday, March 10th. Finally, HC Wainwright lifted their price objective on Protara Therapeutics from $23.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Protara Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $24.75.

Protara Therapeutics Company Profile

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.