Driehaus Capital Management LLC Buys New Position in Protara Therapeutics, Inc. (NASDAQ:TARA)

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

Other hedge funds have also recently bought and sold shares of the company. HBK Investments L P acquired a new position in shares of Protara Therapeutics during the fourth quarter valued at about $106,000. Dimensional Fund Advisors LP acquired a new position in Protara Therapeutics in the 4th quarter valued at approximately $111,000. Bailard Inc. bought a new stake in shares of Protara Therapeutics in the 4th quarter worth approximately $157,000. Commonwealth Equity Services LLC increased its position in shares of Protara Therapeutics by 90.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company's stock valued at $195,000 after purchasing an additional 17,572 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of 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 purchasing an additional 29,514 shares in the last quarter. 38.13% of the stock is owned by institutional investors.

Protara Therapeutics Stock Performance

Shares of NASDAQ TARA traded down $0.05 during mid-day trading on Tuesday, hitting $3.22. 308,209 shares of the stock were exchanged, compared to its average volume of 781,183. The company has a market cap of $124.22 million, a P/E ratio of -1.14 and a beta of 1.73. Protara Therapeutics, Inc. has a twelve month low of $1.60 and a twelve month high of $10.48. The stock's fifty day simple moving average is $3.99 and its two-hundred day simple moving average is $4.12.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last issued its quarterly earnings data 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. As a group, equities research analysts predict that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, insider Jacqueline Zummo sold 21,224 shares of the business'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 completion of the sale, the insider now owns 98,861 shares in the company, valued at $447,840.33. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.