Protara Therapeutics (NASDAQ:TARA) Trading 11% Higher - Time to Buy?

Protara Therapeutics, Inc. (NASDAQ:TARA - Get Free Report) shares shot up 11% during trading on Monday . The company traded as high as $3.43 and last traded at $3.42. 299,689 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 798,823 shares. The stock had previously closed at $3.08.

Analyst Ratings Changes

A number of brokerages have recently commented on TARA. Jones Trading upgraded Protara Therapeutics to a "strong-buy" rating and set a $21.00 target price on the stock in a research note on Thursday, May 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $23.00 price target on shares of Protara Therapeutics in a report on Monday, April 28th. Finally, Scotiabank initiated coverage on Protara Therapeutics in a report on Wednesday, April 16th. They issued a "sector outperform" rating and a $12.00 price target for the company. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $20.50.

Protara Therapeutics Stock Down 0.3%

The business has a 50-day moving average price of $3.13 and a 200-day moving average price of $3.79. The firm has a market capitalization of $128.48 million, a PE ratio of -1.94 and a beta of 1.35.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.18. On average, equities research analysts anticipate that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Walleye Capital LLC boosted its position in shares of Protara Therapeutics by 3.9% during the first quarter. Walleye Capital LLC now owns 229,454 shares of the company's stock worth $977,000 after buying an additional 8,640 shares during the period. Geode Capital Management LLC boosted its position in shares of Protara Therapeutics by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 179,593 shares of the company's stock worth $948,000 after buying an additional 9,553 shares during the period. Charles Schwab Investment Management Inc. purchased a new position in shares of Protara Therapeutics during the first quarter worth $64,000. Commonwealth Equity Services LLC boosted its position in shares of Protara Therapeutics by 90.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company's stock worth $195,000 after buying an additional 17,572 shares during the period. Finally, HBK Investments L P purchased a new position in shares of Protara Therapeutics during the fourth quarter worth $106,000. 38.13% of the stock is currently owned by hedge funds and other institutional investors.

Protara Therapeutics Company Profile

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.