Protara Therapeutics, Inc. (NASDAQ:TARA) Major Shareholder Opaleye Management Inc. Sells 36,492 Shares

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 36,492 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $1.89, for a total value of $68,969.88. Following the transaction, the insider now owns 54,600 shares of the company’s stock, valued at $103,194. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 16th, Opaleye Management Inc. sold 11,396 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.44, for a total transaction of $27,806.24.
• On Thursday, July 11th, Opaleye Management Inc. sold 47,993 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.40, for a total transaction of $115,183.20.
• On Tuesday, July 9th, Opaleye Management Inc. sold 8,497 shares of Protara Therapeutics stock. The shares were 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 stock was sold at an average price of $2.26, for a total value of $105,257.24.
• On Tuesday, June 25th, Opaleye Management Inc. sold 12,725 shares of Protara Therapeutics stock. The shares were sold at an average price of $2.26, for a total value of $28,758.50.

Protara Therapeutics Stock Down 6.0 %

Shares of TARA traded down $0.11 during mid-day trading on Tuesday, reaching $1.73. The company’s stock had a trading volume of 250,255 shares, compared to its average volume of 228,591. The company has a market cap of $35.62 million, a price-to-earnings ratio of -0.49 and a beta of 1.82. The business has a fifty day moving average of $2.12 and a 200 day moving average of $2.83. Protara Therapeutics, Inc. has a 1 year low of $1.04 and a 1 year high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.82) by $0.37. On average, analysts predict that Protara Therapeutics, Inc. will post -2.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TARA. Oppenheimer & Co. Inc. purchased a new position in shares of Protara Therapeutics during the 1st quarter valued at $40,000. Marshall Wace LLP acquired a new stake in Protara Therapeutics during the second quarter valued at $161,000. Renaissance Technologies LLC increased its position in 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 purchasing an additional 65,800 shares during the last quarter. CVI Holdings LLC acquired a new stake in shares of Protara Therapeutics during the 2nd quarter valued at about $630,000. Finally, Ikarian Capital LLC grew its stake 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 valued at $813,000 after buying an additional 14,037 shares in the last quarter. 38.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TARA shares. HC Wainwright reaffirmed a “buy” rating and set a $23.00 target price on shares of Protara Therapeutics in a report on Thursday, August 8th. Oppenheimer reduced their price objective on shares of Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, August 12th.

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.