Opaleye Management Inc. Sells 32,600 Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) Stock

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 32,600 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $1.71, for a total value of $55,746.00. Following the completion of the sale, the insider now owns 51,500 shares of the company’s stock, valued at approximately $88,065. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 Monday, September 9th, Opaleye Management Inc. sold 36,492 shares of Protara Therapeutics stock. The stock was sold at an average price of $1.89, for a total transaction of $68,969.88.
• On Tuesday, July 16th, Opaleye Management Inc. sold 11,396 shares of Protara Therapeutics stock. The shares were sold at an average price of $2.44, for a total transaction of $27,806.24.
• On Thursday, July 11th, Opaleye Management Inc. sold 47,993 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.40, for a total value of $115,183.20.
• On Tuesday, July 9th, Opaleye Management Inc. sold 8,497 shares of Protara Therapeutics stock. The shares were sold at an average price of $2.21, for a total transaction of $18,778.37.
• On Monday, July 1st, Opaleye Management Inc. sold 8,288 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.12, for a total value of $17,570.56.
• 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 transaction of $28,758.50.

Protara Therapeutics Stock Up 8.7 %

TARA stock opened at $1.88 on Friday. The stock has a market cap of $38.71 million, a P/E ratio of -0.50 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 business’s 50-day moving average price is $2.09 and its 200-day moving average price is $2.78.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. bought a new position in Protara Therapeutics during the first quarter valued at approximately $40,000. Ikarian Capital LLC increased its position in Protara Therapeutics by 7.4% in 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 last quarter. Renaissance Technologies LLC raised its stake in Protara Therapeutics by 77.8% during the second 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 in the last quarter. Marshall Wace LLP bought a new position in Protara Therapeutics during the second quarter valued at $161,000. Finally, Armistice Capital LLC bought a new position in Protara Therapeutics during the second quarter valued at $1,082,000. 38.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TARA has been the topic of several recent research reports. Oppenheimer lowered their price objective 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. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 target price on shares of Protara Therapeutics in a report on Thursday, August 8th.

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.