CVI Holdings LLC Invests $630,000 in Protara Therapeutics, Inc. (NASDAQ:TARA)

CVI Holdings LLC bought a new stake in Protara Therapeutics, Inc. (NASDAQ:TARA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 302,746 shares of the company’s stock, valued at approximately $630,000. Protara Therapeutics accounts for about 0.6% of CVI Holdings LLC’s portfolio, making the stock its 26th largest position. CVI Holdings LLC owned 1.47% of Protara Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Armistice Capital LLC acquired a new stake in Protara Therapeutics during the 2nd quarter worth about $1,082,000. Marshall Wace LLP purchased a new stake in shares of Protara Therapeutics during the 2nd quarter worth about $161,000. Renaissance Technologies LLC boosted its stake in shares of Protara Therapeutics by 77.8% during the 2nd quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $313,000 after acquiring an additional 65,800 shares in the last quarter. Ikarian Capital LLC boosted 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 acquiring an additional 14,037 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Protara Therapeutics during the 1st quarter worth about $40,000. 38.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity at Protara Therapeutics

In related news, major shareholder Opaleye Management Inc. sold 47,993 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $2.40, for a total value of $115,183.20. Following the transaction, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $144,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 145,266 shares of company stock valued at $304,054. 12.50% of the stock is owned by corporate insiders.

Protara Therapeutics Trading Up 3.3 %

Shares of Protara Therapeutics stock opened at $1.89 on Friday. The firm has a market capitalization of $38.92 million, a PE ratio of -0.51 and a beta of 1.82. Protara Therapeutics, Inc. has a twelve month low of $1.04 and a twelve month high of $5.24. The firm’s 50-day moving average price is $2.01 and its 200 day moving average price is $2.62.

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

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.