Protara Therapeutics, Inc. (NASDAQ:TARA) Short Interest Up 79.1% in December

Protara Therapeutics, Inc. (NASDAQ:TARA) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 5,410,000 shares, a growth of 79.1% from the November 30th total of 3,020,000 shares. Based on an average daily volume of 2,200,000 shares, the short-interest ratio is currently 2.5 days.

Protara Therapeutics Price Performance

Shares of TARA stock traded down $0.03 during mid-day trading on Friday, hitting $5.47. The company had a trading volume of 250,869 shares, compared to its average volume of 740,772. The company has a market capitalization of $112.85 million, a P/E ratio of -1.94 and a beta of 1.78. The stock’s 50 day moving average price is $3.52 and its 200-day moving average price is $2.57. Protara Therapeutics has a 52-week low of $1.60 and a 52-week high of $10.48.

Protara Therapeutics (NASDAQ:TARA) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). On average, equities research analysts expect that Protara Therapeutics will post -2.99 earnings per share for the current year.

Wall Street Analyst Weigh In

TARA has been the subject of several recent research reports. Guggenheim reissued a “buy” rating and set a $20.00 price target on shares of Protara Therapeutics in a report on Friday, December 6th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Protara Therapeutics in a report on Friday, December 6th.

Institutional Trading of Protara Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in shares of Protara Therapeutics in the third quarter valued at $60,000. Renaissance Technologies LLC raised its stake in shares of Protara Therapeutics by 77.8% during the 2nd quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $313,000 after acquiring an additional 65,800 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Protara Therapeutics in the 2nd quarter valued at approximately $161,000. Oppenheimer & Co. Inc. boosted its position in Protara Therapeutics by 40.8% in the third quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock valued at $328,000 after buying an additional 51,944 shares during the last quarter. Finally, CVI Holdings LLC purchased a new stake in shares of Protara Therapeutics in the 2nd quarter valued at $630,000. Hedge funds and other institutional investors own 38.13% of the company’s stock.

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.