Protara Therapeutics (NASDAQ:TARA) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Protara Therapeutics (NASDAQ:TARA) in a report published on Thursday morning,Benzinga reports. The brokerage currently has a $23.00 target price on the stock.

Separately, Oppenheimer dropped their price target on shares of Protara Therapeutics from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, August 12th.

Protara Therapeutics Stock Performance

TARA traded down $0.07 during mid-day trading on Thursday, reaching $2.51. The stock had a trading volume of 147,578 shares, compared to its average volume of 216,685. The firm’s fifty day simple moving average is $2.03 and its two-hundred day simple moving average is $2.29. The stock has a market capitalization of $51.78 million, a P/E ratio of -0.91 and a beta of 1.77. Protara Therapeutics has a 52 week low of $1.04 and a 52 week high of $5.24.

Insiders Place Their Bets

In other Protara Therapeutics news, major shareholder Opaleye Management Inc. sold 32,600 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $1.71, for a total value of $55,746.00. Following the completion of the sale, the insider now directly owns 51,500 shares of the company’s stock, valued at $88,065. The trade was a 38.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.50% of the company’s stock.

Institutional Trading of Protara Therapeutics

Several large investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. acquired a new stake in shares of Protara Therapeutics in the first quarter valued at about $40,000. Renaissance Technologies LLC boosted its position in shares of Protara Therapeutics by 77.8% during 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 in the last quarter. Marshall Wace LLP purchased a new stake in shares of Protara Therapeutics in the 2nd quarter worth about $161,000. CVI Holdings LLC acquired a new position in shares of Protara Therapeutics during the 2nd quarter valued at about $630,000. Finally, Ikarian Capital LLC increased its position in Protara Therapeutics by 7.4% during the 1st quarter. Ikarian Capital LLC now owns 202,701 shares of the company’s stock worth $813,000 after purchasing an additional 14,037 shares in the last quarter. 38.13% of the stock is owned by hedge funds and other institutional investors.

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.