517,152 Shares in Protara Therapeutics, Inc. (NASDAQ:TARA) Acquired by Driehaus Capital Management LLC

Driehaus Capital Management LLC bought a new position in Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 517,152 shares of the company's stock, valued at approximately $2,731,000. Driehaus Capital Management LLC owned 2.51% of Protara Therapeutics at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TARA. Adage Capital Partners GP L.L.C. acquired a new position in shares of Protara Therapeutics during the fourth quarter valued at $11,880,000. Blackstone Inc. purchased a new stake in shares of Protara Therapeutics in the fourth quarter worth approximately $8,870,000. RA Capital Management L.P. boosted its position in Protara Therapeutics by 78.9% during the fourth quarter. RA Capital Management L.P. now owns 3,400,000 shares of the company's stock valued at $17,952,000 after purchasing an additional 1,500,000 shares during the last quarter. Acorn Capital Advisors LLC acquired a new stake in shares of Protara Therapeutics during the 4th quarter valued at about $6,757,000. Finally, 5AM Venture Management LLC acquired a new stake in shares of Protara Therapeutics during the 4th quarter valued at about $4,224,000. 38.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Protara Therapeutics

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of the stock in a transaction dated Wednesday, March 26th. The stock was 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 in the company, valued at $447,840.33. This represents a 17.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.50% of the company's stock.

Wall Street Analyst Weigh In

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

Protara Therapeutics Price Performance

Shares of TARA stock traded down $0.04 during trading hours on Thursday, hitting $3.09. 144,331 shares of the company's stock were exchanged, compared to its average volume of 775,942. Protara Therapeutics, Inc. has a 52 week low of $1.60 and a 52 week high of $10.48. The stock has a market cap of $119.22 million, a price-to-earnings ratio of -1.10 and a beta of 1.73. The stock's 50-day moving average is $3.96 and its 200-day moving average is $4.11.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.18. Equities research analysts forecast that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current fiscal year.

Protara Therapeutics 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.