Protara Therapeutics (NASDAQ:TARA) Announces Earnings Results, Beats Expectations By $0.08 EPS

Protara Therapeutics (NASDAQ:TARA) issued its quarterly earnings results on Monday. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.08, Zacks reports.

Protara Therapeutics Stock Up 5.6%

Shares of Protara Therapeutics stock traded up $0.24 on Monday, reaching $4.53. The company’s stock had a trading volume of 463,800 shares, compared to its average volume of 367,355. The company has a market capitalization of $174.78 million, a P/E ratio of -2.80 and a beta of 1.59. The stock has a 50-day moving average price of $4.35 and a 200-day moving average price of $3.60. Protara Therapeutics has a 52-week low of $2.21 and a 52-week high of $10.48.

Hedge Funds Weigh In On Protara Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TARA. JPMorgan Chase & Co. acquired a new position in shares of Protara Therapeutics during the 2nd quarter worth about $46,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Protara Therapeutics in the 2nd quarter worth about $53,000. Invesco Ltd. purchased a new stake in Protara Therapeutics during the 2nd quarter worth approximately $73,000. New York State Common Retirement Fund acquired a new position in shares of Protara Therapeutics during the second quarter valued at approximately $102,000. Finally, Rhumbline Advisers lifted its position in shares of Protara Therapeutics by 8.2% in the third quarter. Rhumbline Advisers now owns 34,137 shares of the company’s stock valued at $148,000 after acquiring an additional 2,596 shares in the last quarter. 38.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Protara Therapeutics in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Protara Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

About Protara Therapeutics

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.