Protara Therapeutics Target of Unusually High Options Trading (NASDAQ:TARA)

Protara Therapeutics, Inc. (NASDAQ:TARA) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 2,903 put options on the company. This represents an increase of approximately 5,483% compared to the average volume of 52 put options.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TARA shares. Oppenheimer dropped their target price on Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. HC Wainwright reissued a “buy” rating and issued a $23.00 price objective on shares of Protara Therapeutics in a report on Thursday, November 14th.

Insider Transactions at Protara Therapeutics

In related news, major shareholder Opaleye Management Inc. sold 36,492 shares of Protara Therapeutics stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $1.89, for a total transaction of $68,969.88. Following the completion of the transaction, the insider now directly owns 54,600 shares in the company, valued at approximately $103,194. This trade represents a 40.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.50% of the company’s stock.

Institutional Investors Weigh In On Protara Therapeutics

A number of hedge funds have recently modified their holdings of the business. Armistice Capital LLC acquired a new position in Protara Therapeutics during the second quarter worth about $1,082,000. CVI Holdings LLC purchased a new position in Protara Therapeutics in the 2nd quarter worth approximately $630,000. Oppenheimer & Co. Inc. boosted its holdings in shares of Protara Therapeutics by 40.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock worth $328,000 after purchasing an additional 51,944 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Protara Therapeutics by 21.0% in the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock valued at $311,000 after purchasing an additional 29,514 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Protara Therapeutics by 77.8% in the second quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock valued at $313,000 after purchasing an additional 65,800 shares during the last quarter. 38.13% of the stock is currently owned by institutional investors and hedge funds.

Protara Therapeutics Trading Up 146.9 %

TARA traded up $5.20 during midday trading on Thursday, hitting $8.74. 60,457,252 shares of the company traded hands, compared to its average volume of 454,035. The business has a 50 day simple moving average of $2.27 and a two-hundred day simple moving average of $2.25. Protara Therapeutics has a 52-week low of $1.35 and a 52-week high of $10.48. The company has a market capitalization of $180.31 million, a price-to-earnings ratio of -3.10 and a beta of 1.78.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). Equities research analysts anticipate that Protara Therapeutics will post -2.99 earnings per share for the current year.

About Protara Therapeutics

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.