Insider Selling: Protara Therapeutics, Inc. (NASDAQ:TARA) Major Shareholder Sells $55,746.00 in Stock

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 32,600 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $1.71, for a total value of $55,746.00. Following the completion of the sale, the insider now owns 51,500 shares of the company’s stock, valued at $88,065. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, September 9th, Opaleye Management Inc. sold 36,492 shares of Protara Therapeutics stock. The shares were sold at an average price of $1.89, for a total transaction of $68,969.88.
• On Tuesday, July 16th, Opaleye Management Inc. sold 11,396 shares of Protara Therapeutics stock. The shares were sold at an average price of $2.44, for a total transaction of $27,806.24.
• On Thursday, July 11th, Opaleye Management Inc. sold 47,993 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.40, for a total transaction of $115,183.20.
• On Tuesday, July 9th, Opaleye Management Inc. sold 8,497 shares of Protara Therapeutics stock. The shares were sold at an average price of $2.21, for a total value of $18,778.37.
• On Monday, July 1st, Opaleye Management Inc. sold 8,288 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.12, for a total value of $17,570.56.
• On Thursday, June 27th, Opaleye Management Inc. sold 46,574 shares of Protara Therapeutics stock. The shares were sold at an average price of $2.26, for a total value of $105,257.24.
• On Tuesday, June 25th, Opaleye Management Inc. sold 12,725 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.26, for a total value of $28,758.50.

Protara Therapeutics Stock Up 8.7 %

Shares of TARA stock opened at $1.88 on Friday. Protara Therapeutics, Inc. has a 52-week low of $1.04 and a 52-week high of $5.24. The stock has a market cap of $38.71 million, a PE ratio of -0.50 and a beta of 1.82. The business has a 50-day simple moving average of $2.09 and a 200-day simple moving average of $2.77.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.37. Sell-side analysts anticipate that Protara Therapeutics, Inc. will post -2.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on TARA shares. Oppenheimer cut their price target on shares of Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. HC Wainwright reiterated a “buy” rating and issued a $23.00 price objective on shares of Protara Therapeutics in a research note on Thursday, August 8th.

Institutional Trading of Protara Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Armistice Capital LLC acquired a new position in shares of Protara Therapeutics in the second quarter worth about $1,082,000. CVI Holdings LLC acquired a new position in Protara Therapeutics in the 2nd quarter worth about $630,000. Ikarian Capital LLC raised its stake 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 worth $813,000 after buying an additional 14,037 shares during the period. Renaissance Technologies LLC lifted its holdings in Protara Therapeutics by 77.8% during 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 in the last quarter. Finally, Marshall Wace LLP purchased a new position in Protara Therapeutics in the 2nd quarter valued at about $161,000. 38.13% of the stock is owned by hedge funds and other 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.