Protara Therapeutics, Inc. (NASDAQ:TARA) Shares Sold by Ikarian Capital LLC

Ikarian Capital LLC cut its holdings in Protara Therapeutics, Inc. (NASDAQ:TARA) by 13.8% during the third quarter, HoldingsChannel reports. The firm owned 155,712 shares of the company’s stock after selling 25,000 shares during the period. Ikarian Capital LLC’s holdings in Protara Therapeutics were worth $285,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Armistice Capital LLC purchased a new stake in Protara Therapeutics during the second quarter worth about $1,082,000. CVI Holdings LLC purchased a new stake in Protara Therapeutics during the second quarter worth about $630,000. Oppenheimer & Co. Inc. boosted its holdings in Protara Therapeutics by 40.8% during the third quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock worth $328,000 after buying an additional 51,944 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Protara Therapeutics by 77.8% during the second quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $313,000 after buying an additional 65,800 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Protara Therapeutics during the second quarter worth about $161,000. 38.13% of the stock is currently owned by institutional investors and hedge funds.

Protara Therapeutics Stock Up 3.6 %

Shares of NASDAQ TARA traded up $0.09 on Tuesday, hitting $2.62. The company’s stock had a trading volume of 21,534 shares, compared to its average volume of 214,814. Protara Therapeutics, Inc. has a 12-month low of $1.35 and a 12-month high of $5.24. The stock has a 50 day moving average of $2.20 and a 200-day moving average of $2.25.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.50). Equities analysts anticipate that Protara Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Oppenheimer reduced their price target on shares of Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price target on shares of Protara Therapeutics in a report on Thursday, November 14th.

Insider Activity at Protara Therapeutics

In related news, major shareholder Opaleye Management Inc. sold 32,600 shares of the company’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 transaction of $55,746.00. Following the transaction, the insider now owns 51,500 shares of the company’s stock, valued at approximately $88,065. This represents a 38.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 12.50% of the company’s stock.

Protara Therapeutics 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.