News Recap: Protara Therapeutics (NASDAQ:TARA)

Protara Therapeutics (NASDAQ:TARA) stock identified change of 91.70% away from 52-week low price and recently located move of -74.85% off 52-week high price. It has market worth of $105.10M. TARA stock has been recorded -28.24% away from 50 day moving average and -36.89% away from 200 day moving average. Moving closer, we can see that shares have been trading -16.60% off 20-day moving average.

On Sept. 21, 2020, Protara Therapeutics (NASDAQ:TARA) a clinical-stage company developing transformative therapies for the treatment of cancer and rare diseases with significant unmet needs,  disclosed that it intends to offer and sell shares of its common stock and Series 1 convertible preferred stock in two concurrent but separate underwritten public offerings (together, the Offerings). The Offerings are subject to market and other conditions, and there can be no assurance as to whether or when the Offerings may be completed, or the actual size or terms of the Offerings.

Cowen and Guggenheim Securities are acting as joint book-running managers. Oppenheimer & Co. is acting as lead manager for the Offerings, and H.C. Wainwright & Co. is acting as co-manager for the Offerings. Protara expects to grant the underwriters a 30-day option to purchase additional shares of common stock in the proposed common stock offering of up to 15% of the aggregate number of shares offered in the common stock offering.

Protara intends to use the net proceeds from the Offerings primarily for development activities associated with TARA-002 in non-muscle invasive bladder cancer, lymphatic malformations and potential exploration of additional indications, and the remainder of the net proceeds for general corporate purposes and working capital.

The Healthcare sector company, Protara Therapeutics noticed change of -7.97% to $16.87 along volume of 32594 shares in recent session compared to an average volume of 27.29K. The stock observed return of -13.09% in 5 days trading activity. The stock was at -31.20% over one month performance. TARA’s shares are at -46.66% for the quarter and driving a 18.70% return over the course of the past year and is now at 2.87% since this point in 2018.

The average volatility for the week at 11.11% and for month was at 8.33%. There are 5.84M shares outstanding and 4.29M shares are floated in market. Right now the stock beta is 0.87.

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