Blackstone Inc. Purchases New Holdings in Protara Therapeutics, Inc. (NASDAQ:TARA)

Blackstone Inc. bought a new position in Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,680,000 shares of the company's stock, valued at approximately $8,870,000. Blackstone Inc. owned 8.14% of Protara Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in Protara Therapeutics by 21.0% during the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company's stock worth $311,000 after purchasing an additional 29,514 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings 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 buying an additional 22,301 shares during the last quarter. Bailard Inc. purchased a new position in shares of Protara Therapeutics in the 4th quarter worth $157,000. Commonwealth Equity Services LLC boosted its holdings in Protara Therapeutics by 90.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company's stock valued at $195,000 after acquiring an additional 17,572 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in Protara Therapeutics during the fourth quarter valued at about $648,000. Hedge funds and other institutional investors own 38.13% of the company's stock.

Protara Therapeutics Stock Performance

Shares of NASDAQ:TARA traded down $0.13 during trading hours on Friday, hitting $3.24. The stock had a trading volume of 275,115 shares, compared to its average volume of 784,477. The stock's fifty day simple moving average is $4.00 and its 200 day simple moving average is $4.10. The firm has a market capitalization of $125.00 million, a price-to-earnings ratio of -1.15 and a beta of 1.73. Protara Therapeutics, Inc. has a 1-year low of $1.60 and a 1-year high of $10.48.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last issued its quarterly earnings results 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 anticipate that Protara Therapeutics, Inc. will post -3.32 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, insider Jacqueline Zummo sold 21,224 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $4.53, for a total transaction of $96,144.72. Following the completion of the sale, the insider now directly 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 available at the SEC website. Insiders own 8.40% of the company's stock.

Protara Therapeutics Company Profile

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.