Protara Therapeutics (NASDAQ:TARA) Issues Earnings Results

Key Points

• Protara Therapeutics reported a quarterly loss of $0.36 per share, missing the consensus estimate of a $0.33 loss by $0.03.
• TARA shares opened at $3.94, within a 52-week range of $2.97 to $7.82. Institutional investors own 38.13% of the company, with Geode Capital Management notably increasing its stake.
• Analyst sentiment remains broadly positive, with seven Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $26.25, despite the stock’s recent performance.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.03), FiscalAI reports.

Protara Therapeutics Stock Performance

Protara Therapeutics stock opened at $3.94 on Tuesday. Protara Therapeutics has a fifty-two week low of $2.97 and a fifty-two week high of $7.82. The firm has a market capitalization of $221.32 million, a price-to-earnings ratio of -2.93 and a beta of 1.50. The stock's fifty day moving average is $4.05 and its two-hundred day moving average is $5.07.

Institutional Investors Weigh In On Protara Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Protara Therapeutics by 114.7% during the 2nd quarter. Geode Capital Management LLC now owns 744,519 shares of the company's stock worth $2,256,000 after purchasing an additional 397,822 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Protara Therapeutics during the second quarter worth $46,000. American Century Companies Inc. increased its position in Protara Therapeutics by 69.8% during the second quarter. American Century Companies Inc. now owns 61,554 shares of the company's stock worth $187,000 after buying an additional 25,305 shares in the last quarter. New York State Common Retirement Fund acquired a new position in shares of Protara Therapeutics in the second quarter worth $102,000. Finally, Invesco Ltd. acquired a new position in shares of Protara Therapeutics in the second quarter worth $73,000. 38.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TARA has been the subject of several recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Protara Therapeutics in a report on Friday, July 17th. UBS Group restated a "buy" rating on shares of Protara Therapeutics in a research report on Wednesday, May 20th. JPMorgan Chase & Co. lowered their target price on shares of Protara Therapeutics from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Thursday, May 14th. Oppenheimer boosted their price target on shares of Protara Therapeutics from $25.00 to $28.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 20th. Finally, Wall Street Zen upgraded shares of Protara Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. Seven investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $26.25.

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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