5AM Venture Management LLC Takes Position in Protara Therapeutics, Inc. (NASDAQ:TARA)

5AM Venture Management LLC purchased a new position in shares of Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 800,000 shares of the company's stock, valued at approximately $4,224,000. Protara Therapeutics comprises 1.0% of 5AM Venture Management LLC's holdings, making the stock its 23rd largest position. 5AM Venture Management LLC owned 3.88% of Protara Therapeutics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of Protara Therapeutics by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 179,593 shares of the company's stock worth $948,000 after purchasing an additional 9,553 shares during the period. Commonwealth Equity Services LLC boosted its position in Protara Therapeutics by 90.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company's stock worth $195,000 after purchasing an additional 17,572 shares in the last quarter. HBK Investments L P purchased a new position in Protara Therapeutics during the 4th quarter valued at about $106,000. Dimensional Fund Advisors LP acquired a new stake in shares of Protara Therapeutics in the fourth quarter valued at approximately $111,000. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Protara Therapeutics by 12.4% during the 4th quarter. Oppenheimer & Co. Inc. now owns 201,426 shares of the company's stock worth $1,064,000 after purchasing an additional 22,301 shares in the last quarter. 38.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on TARA. Lifesci Capital started coverage on Protara Therapeutics in a report on Tuesday, March 11th. They set an "outperform" rating and a $22.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $23.00 target price on shares of Protara Therapeutics in a research note on Monday, April 28th. Scotiabank initiated coverage on shares of Protara Therapeutics in a report on Wednesday, April 16th. They set a "sector outperform" rating and a $12.00 price target for the company. Finally, Cantor Fitzgerald started coverage on shares of Protara Therapeutics in a research note on Friday, March 14th. They set an "overweight" rating on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $20.40.

Insider Buying and Selling at Protara Therapeutics

In related news, insider Jacqueline Zummo sold 21,224 shares of Protara Therapeutics stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $4.53, for a total value of $96,144.72. Following the completion of the sale, the insider now owns 98,861 shares in the company, valued at approximately $447,840.33. The trade was a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 12.50% of the stock is currently owned by corporate insiders.

Protara Therapeutics Price Performance

TARA traded up $0.02 during trading hours on Wednesday, reaching $3.39. 135,709 shares of the stock traded hands, compared to its average volume of 783,992. Protara Therapeutics, Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $10.48. The company has a market cap of $130.78 million, a price-to-earnings ratio of -1.20 and a beta of 1.73. The firm's fifty day simple moving average is $4.01 and its two-hundred day simple moving average is $4.07.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last announced its earnings results on Wednesday, March 12th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.09. On average, research analysts predict that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current year.

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.