Insider Selling: Protara Therapeutics, Inc. (NASDAQ:TARA) Insider Sells 21,224 Shares of Stock

Protara Therapeutics, Inc. (NASDAQ:TARA) insider Jacqueline Zummo sold 21,224 shares of the business’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $4.53, for a total value of $96,144.72. Following the transaction, the insider now directly owns 98,861 shares in the company, valued at $447,840.33. This trade represents a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Protara Therapeutics Stock Performance

Shares of Protara Therapeutics stock traded up $0.04 during trading on Friday, hitting $4.58. The company’s stock had a trading volume of 112,993 shares, compared to its average volume of 790,286. Protara Therapeutics, Inc. has a 52 week low of $1.60 and a 52 week high of $10.48. The company has a fifty day simple moving average of $4.26 and a two-hundred day simple moving average of $3.64. The company has a market capitalization of $168.39 million, a PE ratio of -1.62 and a beta of 1.69.

Protara Therapeutics (NASDAQ:TARA) last announced its earnings results on Wednesday, March 12th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.09. As a group, analysts predict that Protara Therapeutics, Inc. will post -3.32 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TARA. HC Wainwright reissued a “buy” rating and set a $23.00 price objective on shares of Protara Therapeutics in a research report on Thursday, March 6th. Guggenheim reissued a “buy” rating and issued a $20.00 price target on shares of Protara Therapeutics in a research note on Friday, December 6th. Cantor Fitzgerald began coverage on shares of Protara Therapeutics in a report on Friday, March 14th. They issued an “overweight” rating for the company. Finally, Lifesci Capital assumed coverage on Protara Therapeutics in a report on Tuesday, March 11th. They set an “outperform” rating and a $22.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Protara Therapeutics has a consensus rating of “Buy” and an average target price of $22.50.

Institutional Investors Weigh In On Protara Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in shares of Protara Therapeutics by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 179,593 shares of the company’s stock valued at $948,000 after acquiring an additional 9,553 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Protara Therapeutics by 90.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company’s stock valued at $195,000 after purchasing an additional 17,572 shares during the last quarter. HBK Investments L P bought a new stake in Protara Therapeutics during the 4th quarter valued at about $106,000. Squarepoint Ops LLC bought a new stake in Protara Therapeutics during the 4th quarter valued at about $110,000. Finally, Dimensional Fund Advisors LP purchased a new position in Protara Therapeutics in the fourth quarter worth about $111,000. 38.13% of the stock is owned by institutional investors.

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.