Protara Therapeutics (NASDAQ:TARA – Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05, FiscalAI reports.
Protara Therapeutics Price Performance
Shares of TARA traded up $0.05 during mid-day trading on Wednesday, hitting $5.20. 567,411 shares of the company’s stock were exchanged, compared to its average volume of 954,524. The company has a market cap of $286.31 million, a PE ratio of -3.94 and a beta of 1.53. Protara Therapeutics has a 52 week low of $2.77 and a 52 week high of $7.82. The company has a 50-day simple moving average of $5.32 and a 200 day simple moving average of $5.70.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. HC Wainwright increased their target price on Protara Therapeutics from $23.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. TD Cowen reissued a “buy” rating on shares of Protara Therapeutics in a research note on Tuesday, March 10th. JPMorgan Chase & Co. assumed coverage on Protara Therapeutics in a research note on Wednesday, March 4th. They set an “overweight” rating and a $27.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Protara Therapeutics in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.75.
Insider Buying and Selling at Protara Therapeutics
In related news, insider Jacqueline Zummo sold 22,598 shares of the firm’s stock in a transaction on 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 transaction, the insider directly owned 95,961 shares of the company’s stock, valued at approximately $504,754.86. This trade represents a 19.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.60% of the company’s stock.
Hedge Funds Weigh In On Protara Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in TARA. ADAR1 Capital Management LLC grew its stake in shares of Protara Therapeutics by 3,127.4% in the fourth quarter. ADAR1 Capital Management LLC now owns 1,136,799 shares of the company’s stock valued at $6,059,000 after buying an additional 1,101,576 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Protara Therapeutics in the fourth quarter valued at $5,562,000. Janus Henderson Group PLC grew its stake in shares of Protara Therapeutics by 21.5% in the fourth quarter. Janus Henderson Group PLC now owns 5,141,616 shares of the company’s stock valued at $27,379,000 after buying an additional 910,285 shares in the last quarter. Integral Health Asset Management LLC grew its stake in shares of Protara Therapeutics by 60.7% in the fourth quarter. Integral Health Asset Management LLC now owns 2,250,000 shares of the company’s stock valued at $11,992,000 after buying an additional 850,000 shares in the last quarter. Finally, Velan Capital Investment Management LP lifted its holdings in Protara Therapeutics by 32.5% during the 4th quarter. Velan Capital Investment Management LP now owns 2,834,652 shares of the company’s stock valued at $15,109,000 after purchasing an additional 695,652 shares during the last quarter. 38.13% of the stock is owned by institutional investors.
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.
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