Protara Therapeutics (NASDAQ:TARA) Coverage Initiated at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Protara Therapeutics (NASDAQ:TARA) in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $27.00 price target on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 363.92% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Protara Therapeutics in a research note on Thursday, January 22nd. Piper Sandler initiated coverage on shares of Protara Therapeutics in a research report on Wednesday, January 7th. They set an “overweight” rating and a $24.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of Protara Therapeutics in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Protara Therapeutics Price Performance

Shares of TARA opened at $5.82 on Wednesday. The company’s fifty day moving average price is $6.07 and its 200-day moving average price is $5.26. Protara Therapeutics has a 1-year low of $2.77 and a 1-year high of $7.82. The firm has a market capitalization of $300.49 million, a PE ratio of -4.07 and a beta of 1.40.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Protara Therapeutics during the 4th quarter valued at about $368,000. ADAR1 Capital Management LLC boosted its position in Protara Therapeutics by 3,127.4% during the fourth quarter. ADAR1 Capital Management LLC now owns 1,136,799 shares of the company’s stock worth $6,059,000 after purchasing an additional 1,101,576 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Protara Therapeutics in the fourth quarter valued at approximately $615,000. Sphera Funds Management LTD. acquired a new position in shares of Protara Therapeutics during the 4th quarter worth approximately $3,464,000. Finally, Quadrature Capital Ltd lifted its position in shares of Protara Therapeutics by 39.4% during the 4th quarter. Quadrature Capital Ltd now owns 24,184 shares of the company’s stock valued at $129,000 after buying an additional 6,838 shares in the last quarter. Hedge funds and other institutional investors own 38.13% of the company’s stock.

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.