Protara Therapeutics (NASDAQ:TARA) Shares Down 1%

Protara Therapeutics, Inc. (NASDAQ:TARA) shares were down 1% during trading on Monday . The company traded as low as $1.90 and last traded at $2.00. Approximately 149,800 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 230,570 shares. The stock had previously closed at $2.02.

Analyst Upgrades and Downgrades

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

Protara Therapeutics Stock Down 1.0 %

The firm has a market cap of $41.26 million, a price-to-earnings ratio of -0.53 and a beta of 1.85. The business’s 50-day simple moving average is $2.13 and its two-hundred day simple moving average is $2.91.

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

Insider Buying and Selling at Protara Therapeutics

In related news, major shareholder Opaleye Management Inc. sold 46,574 shares of Protara Therapeutics stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $2.26, for a total value of $105,257.24. Following the sale, the insider now directly owns 90,000 shares in the company, valued at approximately $203,400. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 135,473 shares of company stock valued at $313,354 over the last ninety days. Corporate insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Protara Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of TARA. CVI Holdings LLC purchased a new position in Protara Therapeutics in the 2nd quarter worth approximately $630,000. Armistice Capital LLC acquired a new stake in shares of Protara Therapeutics in the 2nd quarter worth $1,082,000. Marshall Wace LLP purchased a new position in shares of Protara Therapeutics during the 2nd quarter worth $161,000. Renaissance Technologies LLC increased its position in Protara Therapeutics by 77.8% during the second quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $313,000 after purchasing an additional 65,800 shares during the last quarter. Finally, Ikarian Capital LLC raised its stake in Protara Therapeutics by 7.4% during the first quarter. Ikarian Capital LLC now owns 202,701 shares of the company’s stock worth $813,000 after purchasing an additional 14,037 shares during the period. 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.