Protara Therapeutics (NASDAQ:TARA) Stock Price Down 4% – Should You Sell?

Protara Therapeutics, Inc. (NASDAQ:TARA) dropped 4% during mid-day trading on Monday . The company traded as low as $3.52 and last traded at $3.57. Approximately 254,081 shares traded hands during trading, a decline of 18% from the average daily volume of 309,497 shares. The stock had previously closed at $3.72.

Analyst Upgrades and Downgrades

TARA has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and set a $23.00 target price on shares of Protara Therapeutics in a research note on Friday, December 6th. Guggenheim reiterated a “buy” rating and set a $20.00 target price on shares of Protara Therapeutics in a research report on Friday, December 6th.

Protara Therapeutics Price Performance

The firm has a market capitalization of $73.65 million, a PE ratio of -1.27 and a beta of 1.63. The company’s fifty day simple moving average is $4.87 and its 200 day simple moving average is $3.32.

Institutional Investors Weigh In On Protara Therapeutics

Several institutional investors have recently added to or reduced their stakes in TARA. Oppenheimer & Co. Inc. lifted its holdings in Protara Therapeutics by 40.8% during the third quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock valued at $328,000 after purchasing an additional 51,944 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Protara Therapeutics during the third quarter valued at about $60,000. Geode Capital Management LLC increased its position in shares of Protara Therapeutics by 21.0% during the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock valued at $311,000 after buying an additional 29,514 shares during the period. Bailard Inc. bought a new stake in shares of Protara Therapeutics during the fourth quarter valued at about $157,000. Finally, Commonwealth Equity Services LLC increased 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 valued at $195,000 after buying an additional 17,572 shares during the period. 38.13% of the stock is 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.