Opaleye Management Inc. Sells 46,574 Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) Stock

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 46,574 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $2.26, for a total transaction of $105,257.24. Following the completion of the transaction, the insider now directly owns 90,000 shares in the company, valued at $203,400. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more 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 shares were 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 shares were 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 stock was sold at an average price of $3.25, for a total transaction 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 transaction of $94,554.00.

Protara Therapeutics Stock Performance

Shares of Protara Therapeutics stock opened at $2.08 on Friday. Protara Therapeutics, Inc. has a 1 year low of $1.04 and a 1 year high of $5.24. The company has a market capitalization of $42.83 million, a P/E ratio of -0.56 and a beta of 1.85. The company’s fifty day moving average is $2.79 and its two-hundred day moving average is $2.94.

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

Institutional Trading of Protara Therapeutics

A hedge fund recently raised its stake in Protara Therapeutics stock. Ikarian Capital LLC raised its position in Protara Therapeutics, Inc. (NASDAQ:TARA) by 7.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 202,701 shares of the company’s stock after acquiring an additional 14,037 shares during the period. Ikarian Capital LLC owned approximately 0.98% of Protara Therapeutics worth $813,000 at the end of the most recent reporting period. Institutional investors own 38.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TARA shares. Oppenheimer raised their price objective on shares of Protara Therapeutics from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. HC Wainwright reissued a “buy” rating and set a $23.00 price objective on shares of Protara Therapeutics in a research report on Monday, May 6th.

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.