Protara Therapeutics, Inc. (NASDAQ:TARA) Major Shareholder Sells $105,257.24 in Stock

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 46,574 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $2.26, for a total value of $105,257.24. Following the completion of the transaction, the insider now owns 90,000 shares of the company’s stock, valued at approximately $203,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Tuesday, June 25th, Opaleye Management Inc. sold 12,725 shares of Protara Therapeutics stock. The shares were sold at an average price of $2.26, for a total transaction of $28,758.50.
• On Thursday, May 30th, Opaleye Management Inc. sold 9,230 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.94, for a total transaction of $27,136.20.
• On Tuesday, May 21st, Opaleye Management Inc. sold 33,000 shares of Protara Therapeutics stock. The stock was sold at an average price of $3.06, for a total transaction of $100,980.00.
• On Friday, May 17th, Opaleye Management Inc. sold 70,885 shares of Protara Therapeutics stock. The shares were sold at an average price of $3.25, for a total value of $230,376.25.
• On Thursday, May 9th, Opaleye Management Inc. sold 30,600 shares of Protara Therapeutics stock. The stock was sold at an average price of $3.09, for a total value of $94,554.00.

Protara Therapeutics Stock Down 4.1 %

TARA stock opened at $2.08 on Monday. The stock has a market capitalization of $42.83 million, a price-to-earnings ratio of -0.56 and a beta of 1.85. Protara Therapeutics, Inc. has a 52-week low of $1.04 and a 52-week high of $5.24. The stock’s fifty day simple moving average is $2.79 and its 200-day simple moving average is $2.96.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.02. As a group, analysts anticipate that Protara Therapeutics, Inc. will post -3.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Protara Therapeutics

A hedge fund recently raised its stake in Protara Therapeutics stock. Ikarian Capital LLC increased its position in Protara Therapeutics, Inc. (NASDAQ:TARA) by 7.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 202,701 shares of the company’s stock after buying an additional 14,037 shares during the quarter. Ikarian Capital LLC owned about 0.98% of Protara Therapeutics worth $813,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 38.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price objective on shares of Protara Therapeutics in a research note on Monday, May 6th. Oppenheimer lifted their price target on shares of Protara Therapeutics from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd.

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.