Protara Therapeutics (NASDAQ:TARA) Upgraded to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Protara Therapeutics from “strong sell” to “sell,” though the company’s overall analyst consensus remains “Moderate Buy,” with seven Buy ratings and one Sell rating and an average price target of $26.25.
• Protara shares opened at $3.94 and remain near the lower end of their 52-week range of $3.02 to $7.82. The company reported a quarterly loss of $0.36 per share, missing expectations by $0.03.
• Institutional investors own 38.13% of Protara, with several funds recently increasing their positions or initiating new stakes in the clinical-stage biotechnology company.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities analysts also recently weighed in on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Protara Therapeutics in a research report on Friday, July 17th. Oppenheimer upped their price target on 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 reaffirmed an "overweight" rating on shares of Protara Therapeutics in a research note on Wednesday, May 20th. HC Wainwright reaffirmed a "buy" rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. Finally, UBS Group reaffirmed a "buy" rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $26.25.

Protara Therapeutics Trading Down 0.8%

TARA opened at $3.94 on Friday. Protara Therapeutics has a 1-year low of $3.02 and a 1-year high of $7.82. The company has a market capitalization of $232.85 million, a PE ratio of -2.92 and a beta of 1.49. The firm's 50 day simple moving average is $4.01 and its two-hundred day simple moving average is $4.72.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.03). Equities analysts forecast that Protara Therapeutics will post -1.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Protara Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. AIGH Capital Management LLC bought a new position in shares of Protara Therapeutics in the first quarter worth about $8,454,000. ADAR1 Capital Management LLC raised its stake in Protara Therapeutics by 3,127.4% during the 4th quarter. ADAR1 Capital Management LLC now owns 1,136,799 shares of the company's stock valued at $6,059,000 after purchasing an additional 1,101,576 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in Protara Therapeutics in the 4th quarter worth approximately $5,562,000. Janus Henderson Group PLC lifted its holdings in Protara Therapeutics by 21.5% in the 4th quarter. Janus Henderson Group PLC now owns 5,141,616 shares of the company's stock worth $27,379,000 after purchasing an additional 910,285 shares in the last quarter. Finally, Integral Health Asset Management LLC lifted its holdings 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. 38.13% of the stock is owned by institutional investors.

About Protara Therapeutics

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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