Driehaus Capital Management LLC Has $1.16 Million Holdings in Protara Therapeutics, Inc. $TARA

Key Points

• Driehaus Capital Management LLC reduced its stake in Protara Therapeutics by 47.3% after selling 244,810 shares, leaving them with approximately 0.71% of the company valued at $1,160,000.
• Institutional investors now own 38.13% of Protara's stock, with firms like Janus Henderson Group and Toronto Dominion Bank acquiring significant new positions in the fourth quarter.
• Protara Therapeutics has received a "strong-buy" rating from Jones Trading, with an average target price of $19.60, despite current trading at around $3.12.

Driehaus Capital Management LLC cut its holdings in shares of Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) by 47.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 272,342 shares of the company's stock after selling 244,810 shares during the period. Driehaus Capital Management LLC owned approximately 0.71% of Protara Therapeutics worth $1,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Walleye Capital LLC lifted its stake in Protara Therapeutics by 3.9% during the first quarter. Walleye Capital LLC now owns 229,454 shares of the company's stock valued at $977,000 after purchasing an additional 8,640 shares during the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of Protara Therapeutics in the 1st quarter valued at approximately $64,000. Squarepoint Ops LLC purchased a new stake in shares of Protara Therapeutics in the 4th quarter valued at approximately $110,000. Dimensional Fund Advisors LP purchased a new stake in shares of Protara Therapeutics in the 4th quarter valued at approximately $111,000. Finally, American Century Companies Inc. purchased a new stake in shares of Protara Therapeutics in the 1st quarter valued at approximately $154,000. 38.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Jones Trading upgraded shares of Protara Therapeutics to a "strong-buy" rating and set a $21.00 price target for the company in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to data from MarketBeat, Protara Therapeutics presently has a consensus rating of "Buy" and a consensus target price of $19.60.

Protara Therapeutics Price Performance

Protara Therapeutics stock traded up $0.06 during trading hours on Wednesday, hitting $3.23. The company had a trading volume of 434,818 shares, compared to its average volume of 157,961. The firm has a market capitalization of $124.61 million, a P/E ratio of -1.99 and a beta of 1.52. The firm's fifty day moving average is $3.12 and its 200-day moving average is $3.48. Protara Therapeutics, Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $10.48.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. Analysts anticipate that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current year.

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.