HC Wainwright Reaffirms “Buy” Rating for Protara Therapeutics (NASDAQ:TARA)

Protara Therapeutics (NASDAQ:TARA)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $23.00 price objective on the stock.

Separately, Oppenheimer cut their target price on Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th.

Protara Therapeutics Price Performance

Shares of Protara Therapeutics stock opened at $2.69 on Thursday. The business’s fifty day moving average price is $2.00 and its two-hundred day moving average price is $2.29. The company has a market capitalization of $55.49 million, a P/E ratio of -0.95 and a beta of 1.77. Protara Therapeutics has a 1-year low of $1.04 and a 1-year high of $5.24.

Insider Transactions at Protara Therapeutics

In other news, major shareholder Opaleye Management Inc. sold 36,492 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $1.89, for a total transaction of $68,969.88. Following the sale, the insider now directly owns 54,600 shares of the company’s stock, valued at $103,194. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer & Co. Inc. purchased a new position in shares of Protara Therapeutics during the first quarter valued at $40,000. Marshall Wace LLP purchased a new position in shares of Protara Therapeutics during the second quarter valued at $161,000. Renaissance Technologies LLC grew its holdings in shares of 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 buying an additional 65,800 shares in the last quarter. CVI Holdings LLC purchased a new position in shares of Protara Therapeutics during the second quarter valued at $630,000. Finally, Ikarian Capital LLC grew its holdings in shares of Protara Therapeutics by 7.4% during the first quarter. Ikarian Capital LLC now owns 202,701 shares of the company’s stock valued at $813,000 after buying an additional 14,037 shares in the last quarter. Hedge funds and other institutional investors own 38.13% of the company’s stock.

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.