Protara Therapeutics (NASDAQ:TARA) Posts Earnings Results, Beats Estimates By $0.05 EPS

Protara Therapeutics (NASDAQ:TARA) issued its earnings results on Wednesday. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.05, FiscalAI reports.

Protara Therapeutics Trading Up 1.0%

NASDAQ TARA traded up $0.05 during trading hours on Wednesday, hitting $5.20. The company’s stock had a trading volume of 567,411 shares, compared to its average volume of 954,524. The company has a market capitalization 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’s 50-day simple moving average is $5.32 and its two-hundred day simple moving average is $5.70.

Analysts Set New Price Targets

Several research analysts have issued reports on TARA shares. HC Wainwright increased their price target on Protara Therapeutics from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Protara Therapeutics in a report on Tuesday, April 21st. JPMorgan Chase & Co. started coverage on Protara Therapeutics in a research report on Wednesday, March 4th. They set an “overweight” rating and a $27.00 target price on the stock. Finally, TD Cowen reaffirmed a “buy” rating on shares of Protara Therapeutics in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.75.

Insider Activity at Protara Therapeutics

In other news, insider Jacqueline Zummo sold 22,598 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $504,754.86. This represents a 19.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Protara Therapeutics

Institutional investors have recently bought and sold shares of the stock. ADAR1 Capital Management LLC raised its position in Protara Therapeutics by 3,127.4% in the 4th 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 during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Protara Therapeutics during the 4th quarter worth $5,562,000. Janus Henderson Group PLC boosted its holdings in Protara Therapeutics by 21.5% during the 4th quarter. Janus Henderson Group PLC now owns 5,141,616 shares of the company’s stock worth $27,379,000 after acquiring an additional 910,285 shares during the last quarter. Integral Health Asset Management LLC grew its position in Protara Therapeutics by 60.7% in the 4th quarter. Integral Health Asset Management LLC now owns 2,250,000 shares of the company’s stock worth $11,992,000 after purchasing an additional 850,000 shares in the last quarter. Finally, Velan Capital Investment Management LP grew its position in Protara Therapeutics by 32.5% in the 4th quarter. Velan Capital Investment Management LP now owns 2,834,652 shares of the company’s stock worth $15,109,000 after purchasing an additional 695,652 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.