Protara Therapeutics, Inc. (NASDAQ:TARA) Given Consensus Rating of “Moderate Buy” by Brokerages

Protara Therapeutics, Inc. (NASDAQ:TARA) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $26.25.

Several brokerages recently commented on TARA. Oppenheimer upped their price target on shares of Protara Therapeutics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Protara Therapeutics in a report on Wednesday, May 20th. JPMorgan Chase & Co. lowered their price objective on shares of Protara Therapeutics from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. UBS Group restated a “buy” rating on shares of Protara Therapeutics in a report on Wednesday, May 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Protara Therapeutics in a report on Tuesday, April 21st.

Insider Buying and Selling

In other news, insider Jacqueline Zummo sold 22,598 shares of the firm’s 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 transaction, the insider directly owned 95,961 shares in the company, valued at $504,754.86. This trade represents a 19.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.60% of the stock is owned by corporate insiders.

Institutional Trading of Protara Therapeutics

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its position in Protara Therapeutics by 86.7% during the 1st quarter. Bank of America Corp DE now owns 925,918 shares of the company’s stock worth $4,824,000 after purchasing an additional 430,014 shares in the last quarter. Janus Henderson Group PLC grew its stake in Protara Therapeutics by 1.3% during the first quarter. Janus Henderson Group PLC now owns 5,207,011 shares of the company’s stock worth $27,155,000 after buying an additional 65,395 shares during the period. The Manufacturers Life Insurance Company grew its stake in Protara Therapeutics by 22.2% during the first quarter. The Manufacturers Life Insurance Company now owns 13,548 shares of the company’s stock worth $71,000 after buying an additional 2,464 shares during the period. Walleye Capital LLC increased its position in shares of 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 acquiring an additional 297,525 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Protara Therapeutics by 133.9% in the first quarter. Dimensional Fund Advisors LP now owns 531,267 shares of the company’s stock worth $2,767,000 after acquiring an additional 304,110 shares in the last quarter. Hedge funds and other institutional investors own 38.13% of the company’s stock.

Protara Therapeutics Price Performance

TARA opened at $3.90 on Monday. Protara Therapeutics has a 12 month low of $2.77 and a 12 month high of $7.82. The business has a 50-day moving average of $4.90 and a two-hundred day moving average of $5.56. The stock has a market capitalization of $219.18 million, a price-to-earnings ratio of -2.91 and a beta of 1.45.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.05. Equities research analysts anticipate that Protara Therapeutics will post -1.45 earnings per share for the current year.

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.