Protara Therapeutics (NASDAQ:TARA) Stock Price Up 2.3% – What’s Next?

Protara Therapeutics, Inc. (NASDAQ:TARA) rose 2.3% during mid-day trading on Friday . The stock traded as high as $6.89 and last traded at $6.65. Approximately 613,431 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 1,102,347 shares. The stock had previously closed at $6.50.

Analyst Ratings Changes

Several equities research analysts have weighed in on TARA shares. HC Wainwright restated a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a report on Wednesday, December 3rd. Piper Sandler initiated coverage on shares of Protara Therapeutics in a research note on Wednesday, January 7th. They set an “overweight” rating and a $24.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Protara Therapeutics in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.40.

Protara Therapeutics Stock Performance

The firm has a 50-day moving average price of $5.84 and a two-hundred day moving average price of $4.85. The firm has a market cap of $343.34 million, a price-to-earnings ratio of -4.65 and a beta of 1.38.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.08. Research analysts anticipate that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current year.

Institutional Investors Weigh In On Protara Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TARA. Acorn Capital Advisors LLC boosted its position in shares of Protara Therapeutics by 36.9% in the 2nd quarter. Acorn Capital Advisors LLC now owns 1,752,115 shares of the company’s stock valued at $5,309,000 after purchasing an additional 472,315 shares during the period. Assenagon Asset Management S.A. acquired a new position in Protara Therapeutics during the third quarter worth approximately $1,337,000. Velan Capital Investment Management LP lifted its stake in Protara Therapeutics by 28.3% in the second quarter. Velan Capital Investment Management LP now owns 2,139,000 shares of the company’s stock valued at $6,481,000 after buying an additional 471,200 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Protara Therapeutics in the second quarter valued at approximately $47,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Protara Therapeutics in the second quarter valued at approximately $30,000. 38.13% of the stock is currently owned by institutional investors and hedge funds.

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.