Blackstone Inc. Makes New Investment in Protara Therapeutics, Inc. (NASDAQ:TARA)

Blackstone Inc. purchased a new stake in Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,680,000 shares of the company's stock, valued at approximately $8,870,000. Blackstone Inc. owned 8.14% of Protara Therapeutics at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. HBK Investments L P acquired a new stake in Protara Therapeutics in the fourth quarter valued at $106,000. Dimensional Fund Advisors LP acquired a new stake in shares of Protara Therapeutics in the fourth quarter valued at about $111,000. Bailard Inc. purchased a new stake in Protara Therapeutics during the fourth quarter worth about $157,000. Commonwealth Equity Services LLC grew 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 buying an additional 17,572 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Protara Therapeutics by 21.0% in the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company's stock valued at $311,000 after buying an additional 29,514 shares in the last quarter. 38.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Protara Therapeutics Price Performance

NASDAQ:TARA traded down $0.13 during trading hours on Friday, reaching $3.24. 275,115 shares of the company traded hands, compared to its average volume of 785,029. Protara Therapeutics, Inc. has a 1-year low of $1.60 and a 1-year high of $10.48. The stock has a market cap of $125.00 million, a P/E ratio of -1.15 and a beta of 1.73. The firm's 50-day moving average is $4.00 and its 200-day moving average is $4.08.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.47) by $0.18. As a group, research analysts predict that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current year.

Insider Transactions at Protara Therapeutics

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of Protara Therapeutics stock in a transaction that occurred 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 directly owns 98,861 shares of the company's stock, valued at approximately $447,840.33. The trade was a 17.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.40% of the company's stock.

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.