Adage Capital Partners GP L.L.C. Buys New Stake in Protara Therapeutics, Inc. (NASDAQ:TARA)

Adage Capital Partners GP L.L.C. purchased a new position in Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,250,000 shares of the company's stock, valued at approximately $11,880,000. Adage Capital Partners GP L.L.C. owned about 10.91% of Protara Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TARA. Walleye Capital LLC purchased a new stake in shares of Protara Therapeutics in the 4th quarter worth about $1,166,000. Oppenheimer & Co. Inc. lifted its stake in shares of Protara Therapeutics by 12.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 201,426 shares of the company's stock worth $1,064,000 after buying an additional 22,301 shares in the last quarter. Geode Capital Management LLC boosted its stake in Protara Therapeutics by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 179,593 shares of the company's stock valued at $948,000 after purchasing an additional 9,553 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in shares of Protara Therapeutics during the fourth quarter valued at $648,000. Finally, Barclays PLC purchased a new stake in shares of Protara Therapeutics during the 4th quarter valued at about $492,000. Institutional investors own 38.13% of the company's stock.

Insider Buying and Selling at Protara Therapeutics

In other news, insider Jacqueline Zummo sold 21,224 shares of the firm's stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $4.53, for a total transaction of $96,144.72. Following the transaction, the insider now owns 98,861 shares in the company, valued at approximately $447,840.33. This trade represents a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 12.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TARA has been the topic of a number of research reports. Cantor Fitzgerald began coverage on Protara Therapeutics in a research note on Friday, March 14th. They issued an "overweight" rating on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $23.00 target price on shares of Protara Therapeutics in a report on Monday. Lifesci Capital initiated coverage on shares of Protara Therapeutics in a report on Tuesday, March 11th. They set an "outperform" rating and a $22.00 price objective for the company. Finally, Scotiabank assumed coverage on Protara Therapeutics in a report on Wednesday, April 16th. They issued a "sector outperform" rating and a $12.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $20.40.

Protara Therapeutics Price Performance

Shares of Protara Therapeutics stock traded down $0.04 on Thursday, reaching $3.46. The company had a trading volume of 446,121 shares, compared to its average volume of 781,736. The firm's 50-day moving average price is $4.01 and its two-hundred day moving average price is $4.01. Protara Therapeutics, Inc. has a 1 year low of $1.60 and a 1 year high of $10.48. The firm has a market cap of $127.21 million, a price-to-earnings ratio of -1.23 and a beta of 1.60.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The company reported ($0.48) earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.09. As a group, analysts anticipate that Protara Therapeutics, Inc. will post -3.32 EPS 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.