Millennium Management LLC Raises Stock Holdings in Protara Therapeutics, Inc. (NASDAQ:TARA)

Millennium Management LLC raised its position in shares of Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) by 2,479.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 371,453 shares of the company's stock after purchasing an additional 357,051 shares during the quarter. Millennium Management LLC owned 1.80% of Protara Therapeutics worth $1,961,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TARA. HBK Investments L P bought a new stake in shares of Protara Therapeutics during the 4th quarter valued at about $106,000. Dimensional Fund Advisors LP bought a new stake in shares of Protara Therapeutics during the 4th quarter valued at about $111,000. Bailard Inc. bought a new stake in shares of Protara Therapeutics during the 4th quarter valued at about $157,000. Commonwealth Equity Services LLC grew its stake in shares of Protara Therapeutics by 90.4% during the 4th 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, 683 Capital Management LLC bought a new stake in shares of Protara Therapeutics during the 4th quarter valued at about $330,000. 38.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TARA shares. HC Wainwright reiterated a "buy" rating and set a $23.00 price objective on shares of Protara Therapeutics in a research note on Monday, April 28th. Lifesci Capital started coverage on Protara Therapeutics in a research note on Tuesday, March 11th. They set an "outperform" rating and a $22.00 price objective for the company. Cantor Fitzgerald started coverage on Protara Therapeutics in a research note on Friday, March 14th. They set an "overweight" rating for the company. Jones Trading upgraded Protara Therapeutics to a "strong-buy" rating and set a $21.00 price objective for the company in a research note on Thursday, May 22nd. Finally, Scotiabank started coverage on Protara Therapeutics in a research note on Wednesday, April 16th. They set a "sector outperform" rating and a $12.00 price objective for the company. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $20.50.

Insider Buying and Selling

In other news, insider Jacqueline Zummo sold 21,224 shares of the company's stock in a transaction that occurred 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 sale, the insider now directly owns 98,861 shares of the company's stock, valued at $447,840.33. This represents a 17.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.40% of the stock is owned by insiders.

Protara Therapeutics Stock Up 7.1%

NASDAQ TARA traded up $0.22 during trading hours on Friday, reaching $3.34. The company's stock had a trading volume of 362,823 shares, compared to its average volume of 772,829. The firm's 50-day moving average price is $3.58 and its 200-day moving average price is $4.19. Protara Therapeutics, Inc. has a 1 year low of $1.60 and a 1 year high of $10.48. The company has a market capitalization of $128.86 million, a price-to-earnings ratio of -1.18 and a beta of 1.34.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) EPS for the quarter, topping analysts' consensus estimates of ($0.47) by $0.18. Equities research analysts anticipate that Protara Therapeutics, Inc. will post -3.32 EPS for the current fiscal 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.