Protara Therapeutics (NASDAQ:TARA) Stock Price Up 0.8% – Here’s What Happened

Protara Therapeutics, Inc. (NASDAQ:TARA)’s share price rose 0.8% on Tuesday . The stock traded as high as $2.74 and last traded at $2.61. Approximately 262,497 shares were traded during mid-day trading, an increase of 20% from the average daily volume of 219,127 shares. The stock had previously closed at $2.59.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Oppenheimer reduced 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 restated a “buy” rating and issued a $23.00 target price on shares of Protara Therapeutics in a research note on Thursday, August 8th.

Protara Therapeutics Stock Up 3.7 %

The business has a 50-day moving average price of $1.95 and a 200-day moving average price of $2.31. The firm has a market capitalization of $52.40 million, a price-to-earnings ratio of -0.79 and a beta of 1.77.

Protara Therapeutics (NASDAQ:TARA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.37. On average, equities research analysts forecast that Protara Therapeutics, Inc. will post -2.96 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. sold 32,600 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $1.71, for a total value of $55,746.00. Following the transaction, the insider now directly owns 51,500 shares of the company’s stock, valued at $88,065. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. grew its holdings in Protara Therapeutics by 40.8% during the third quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock worth $328,000 after acquiring an additional 51,944 shares during the period. CVI Holdings LLC acquired a new stake in shares of Protara Therapeutics during the 2nd quarter worth approximately $630,000. Armistice Capital LLC acquired a new stake in shares of Protara Therapeutics during the 2nd quarter worth approximately $1,082,000. Marshall Wace LLP purchased a new position in shares of Protara Therapeutics during the 2nd quarter valued at approximately $161,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Protara Therapeutics by 77.8% in the 2nd 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 period. Hedge funds and other institutional investors own 38.13% of the company’s stock.

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.