JPMorgan Chase & Co. Issues Pessimistic Forecast for Protara Therapeutics (NASDAQ:TARA) Stock Price

Protara Therapeutics (NASDAQ:TARA) had its target price lowered by equities research analysts at JPMorgan Chase & Co. from $27.00 to $26.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 394.77% from the company’s current price.

Other equities research analysts also recently issued reports about the company. TD Cowen reissued a “buy” rating on shares of Protara Therapeutics in a research report on Tuesday, March 10th. HC Wainwright boosted their price objective on Protara Therapeutics from $23.00 to $27.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Protara Therapeutics in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.50.

Protara Therapeutics Stock Performance

Shares of TARA traded up $0.06 on Thursday, hitting $5.26. 295,566 shares of the stock traded hands, compared to its average volume of 947,118. Protara Therapeutics has a one year low of $2.77 and a one year high of $7.82. The business has a 50 day simple moving average of $5.31 and a 200 day simple moving average of $5.70. The company has a market capitalization of $289.34 million, a PE ratio of -3.98 and a beta of 1.53.

Protara Therapeutics (NASDAQ:TARA) last posted its earnings results on Wednesday, May 13th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. On average, equities analysts expect that Protara Therapeutics will post -1.58 earnings per share for the current year.

Insider Buying and Selling at Protara Therapeutics

In related news, insider Jacqueline Zummo sold 22,598 shares of Protara Therapeutics stock in a transaction dated Wednesday, April 1st. The stock was 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. The trade was a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Protara Therapeutics

A number of large investors have recently bought and sold shares of TARA. Walleye Capital LLC raised its holdings in Protara Therapeutics by 204.0% in the first quarter. Walleye Capital LLC now owns 443,401 shares of the company’s stock worth $2,310,000 after purchasing an additional 297,525 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Protara Therapeutics by 133.9% during the first quarter. Dimensional Fund Advisors LP now owns 531,267 shares of the company’s stock worth $2,767,000 after purchasing an additional 304,110 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Protara Therapeutics by 38.7% during the first quarter. Bank of New York Mellon Corp now owns 129,671 shares of the company’s stock worth $676,000 after purchasing an additional 36,149 shares in the last quarter. AIGH Capital Management LLC acquired a new position in shares of Protara Therapeutics during the first quarter worth $8,454,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Protara Therapeutics by 84.1% during the first quarter. Assenagon Asset Management S.A. now owns 567,621 shares of the company’s stock worth $2,957,000 after purchasing an additional 259,287 shares in the last quarter. Institutional investors own 38.13% of the company’s stock.

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.