Protara Therapeutics, Inc. (NASDAQ:TARA) Major Shareholder Opaleye Management Inc. Sells 8,288 Shares

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 8,288 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $2.12, for a total value of $17,570.56. Following the transaction, the insider now directly owns 87,500 shares of the company’s stock, valued at approximately $185,500. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% 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 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.
• 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 value 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 value of $100,980.00.
• On Friday, May 17th, Opaleye Management Inc. sold 70,885 shares of Protara Therapeutics stock. The stock was 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 Trading Up 3.4 %

TARA stock traded up $0.07 during midday trading on Wednesday, hitting $2.10. The company’s stock had a trading volume of 63,257 shares, compared to its average volume of 253,507. The company has a 50 day moving average of $2.75 and a two-hundred day moving average of $2.96. Protara Therapeutics, Inc. has a 12 month low of $1.04 and a 12 month high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last issued 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. Research analysts anticipate that Protara Therapeutics, Inc. will post -3.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Protara Therapeutics

An institutional investor recently raised its position in Protara Therapeutics stock. Ikarian Capital LLC raised its stake in shares of Protara Therapeutics, Inc. (NASDAQ:TARA) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,701 shares of the company’s stock after purchasing an additional 14,037 shares during the quarter. Ikarian Capital LLC owned about 0.98% of Protara Therapeutics worth $813,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 38.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on TARA shares. HC Wainwright reiterated a “buy” rating and set a $23.00 target price on shares of Protara Therapeutics in a research note on Monday, May 6th. Oppenheimer increased their target price on Protara Therapeutics from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd.

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.