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

Protara Therapeutics (NASDAQ:TARA)‘s stock had its “buy” rating restated by HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They presently have a $23.00 target price on the stock.

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

Protara Therapeutics Stock Performance

Shares of NASDAQ:TARA opened at $2.69 on Thursday. Protara Therapeutics has a one year low of $1.04 and a one year high of $5.24. The business’s 50-day simple moving average is $2.00 and its 200 day simple moving average is $2.29. The company has a market cap of $55.49 million, a P/E ratio of -0.95 and a beta of 1.77.

Insiders Place Their Bets

In other Protara Therapeutics news, major shareholder Opaleye Management Inc. sold 36,492 shares of Protara Therapeutics stock in a transaction that occurred 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 in the company, valued at $103,194. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TARA. Oppenheimer & Co. Inc. acquired a new position in shares of Protara Therapeutics in the 1st quarter worth approximately $40,000. Ikarian Capital LLC grew its position in shares of Protara Therapeutics by 7.4% in 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. Renaissance Technologies LLC grew its position in shares of Protara Therapeutics by 77.8% in 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. Marshall Wace LLP acquired a new position in shares of Protara Therapeutics in the 2nd quarter worth approximately $161,000. Finally, Armistice Capital LLC acquired a new position in Protara Therapeutics during the 2nd quarter valued at approximately $1,082,000. Institutional investors and hedge funds own 38.13% of the company’s stock.

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.