Ikarian Capital LLC Purchases 14,037 Shares of Protara Therapeutics, Inc. (NASDAQ:TARA)

Ikarian Capital LLC increased its position in shares of Protara Therapeutics, Inc. (NASDAQ:TARA) by 7.4% in the first quarter, Holdings Channel reports. The institutional investor owned 202,701 shares of the company’s stock after buying an additional 14,037 shares during the period. Ikarian Capital LLC’s holdings in Protara Therapeutics were worth $813,000 as of its most recent SEC filing.

Separately, Oppenheimer & Co. Inc. bought a new position in shares of Protara Therapeutics during the first quarter worth about $40,000. 38.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Protara Therapeutics Price Performance

TARA stock traded down $0.12 during mid-day trading on Thursday, reaching $2.11. The company had a trading volume of 142,330 shares, compared to its average volume of 237,570. The stock has a 50 day simple moving average of $2.41 and a two-hundred day simple moving average of $2.99. The company has a market capitalization of $43.44 million, a price-to-earnings ratio of -0.56 and a beta of 1.85. Protara Therapeutics, Inc. has a 52 week low of $1.04 and a 52 week high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.02. On average, equities analysts predict that Protara Therapeutics, Inc. will post -3.56 EPS for the current year.

Insider Transactions at Protara Therapeutics

In other news, major shareholder Opaleye Management Inc. sold 12,725 shares of Protara Therapeutics stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $2.26, for a total transaction of $28,758.50. Following the completion of the transaction, the insider now directly owns 102,471 shares in the company, valued at approximately $231,584.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 279,188 shares of company stock worth $766,401. 12.50% of the stock is owned by company insiders.

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.