Insider Selling: Protara Therapeutics, Inc. (NASDAQ:TARA) Major Shareholder Sells 47,993 Shares of Stock

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 47,993 shares of Protara Therapeutics 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 completion of the sale, the insider now owns 60,000 shares of the company’s stock, valued at approximately $144,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large 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, July 9th, Opaleye Management Inc. sold 8,497 shares of Protara Therapeutics stock. The stock was 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 shares were sold at an average price of $2.12, for a total transaction 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 transaction 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 value 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 value of $27,136.20.
• On Tuesday, May 21st, Opaleye Management Inc. sold 33,000 shares of Protara Therapeutics stock. The stock was sold at an average price of $3.06, for a total value of $100,980.00.
• On Friday, May 17th, Opaleye Management Inc. sold 70,885 shares of Protara Therapeutics stock. The shares were sold at an average price of $3.25, for a total value 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 TARA stock traded up $0.03 during trading hours on Thursday, reaching $2.34. The company had a trading volume of 287,103 shares, compared to its average volume of 252,955. The stock’s fifty day simple moving average is $2.64 and its 200 day simple moving average is $2.97. The company has a market capitalization of $48.18 million, a P/E ratio of -0.63 and a beta of 1.85. Protara Therapeutics, Inc. has a twelve month low of $1.04 and a twelve month high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.97) earnings per share (EPS) for the quarter, beating 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.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a research report on Monday, May 6th. Oppenheimer lifted their target price on shares of Protara Therapeutics from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, April 22nd.

Institutional Investors Weigh In On 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 first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,701 shares of the company’s stock after buying 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 quarter. 38.13% of the stock is owned by institutional investors and hedge funds.

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.