Protara Therapeutics (NASDAQ:TARA) Trading 0.8% Higher – What’s Next?

Protara Therapeutics, Inc. (NASDAQ:TARA)’s share price shot up 0.8% on Tuesday . The company traded as high as $2.74 and last traded at $2.61. 262,497 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 219,127 shares. The stock had previously closed at $2.59.

Wall Street Analyst Weigh In

TARA has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and set a $23.00 target price on shares of Protara Therapeutics in a research note on Thursday, August 8th. Oppenheimer dropped their price target on Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th.

Protara Therapeutics Stock Up 0.8 %

The firm has a market capitalization of $53.84 million, a price-to-earnings ratio of -0.82 and a beta of 1.77. The company’s 50 day moving average price is $1.95 and its 200 day moving average price is $2.30.

Protara Therapeutics (NASDAQ:TARA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.37. As a group, analysts expect that Protara Therapeutics, Inc. will post -2.96 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Opaleye Management Inc. sold 32,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $1.71, for a total value of $55,746.00. Following the sale, the insider now owns 51,500 shares in the company, valued at $88,065. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Protara Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC purchased a new position in shares of Protara Therapeutics during the 2nd quarter valued at approximately $1,082,000. CVI Holdings LLC purchased a new position in Protara Therapeutics during the second quarter worth approximately $630,000. Marshall Wace LLP acquired a new stake in Protara Therapeutics in the second quarter valued at approximately $161,000. Renaissance Technologies LLC raised its stake in shares of Protara Therapeutics by 77.8% during the 2nd quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $313,000 after buying an additional 65,800 shares during the period. Finally, Ikarian Capital LLC lifted its position in shares of Protara Therapeutics by 7.4% during the 1st quarter. Ikarian Capital LLC now owns 202,701 shares of the company’s stock valued at $813,000 after buying an additional 14,037 shares in the last quarter. 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.