Millennium Management LLC Acquires 357,051 Shares of Protara Therapeutics, Inc. (NASDAQ:TARA)

Millennium Management LLC boosted its position in Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) by 2,479.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 371,453 shares of the company's stock after purchasing an additional 357,051 shares during the period. Millennium Management LLC owned 1.80% of Protara Therapeutics worth $1,961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. HBK Investments L P acquired a new position in Protara Therapeutics in the 4th quarter worth about $106,000. Dimensional Fund Advisors LP acquired a new position in Protara Therapeutics in the 4th quarter worth about $111,000. Bailard Inc. acquired a new position in Protara Therapeutics in the 4th quarter worth about $157,000. Commonwealth Equity Services LLC increased its stake in shares of 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 buying an additional 17,572 shares during the period. Finally, 683 Capital Management LLC acquired a new stake in shares of Protara Therapeutics in the fourth quarter valued at about $330,000. Institutional investors and hedge funds own 38.13% of the company's stock.

Insider Activity at Protara Therapeutics

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

Protara Therapeutics Price Performance

Shares of Protara Therapeutics stock traded down $0.06 on Wednesday, hitting $3.22. 125,437 shares of the company's stock traded hands, compared to its average volume of 770,374. Protara Therapeutics, Inc. has a one year low of $1.60 and a one year high of $10.48. The company has a fifty day moving average of $3.63 and a two-hundred day moving average of $4.19. The company has a market capitalization of $124.23 million, a price-to-earnings ratio of -1.14 and a beta of 1.34.

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

Wall Street Analysts Forecast Growth

TARA has been the subject of several recent research 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 target for the company. Jones Trading raised Protara Therapeutics to a "strong-buy" rating and set a $21.00 price target for the company in a research note on Thursday, May 22nd. Cantor Fitzgerald initiated coverage on Protara Therapeutics in a research note on Friday, March 14th. They issued an "overweight" rating for the company. Lifesci Capital initiated coverage on Protara Therapeutics in a research note on Tuesday, March 11th. They issued an "outperform" rating and a $22.00 price target for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $23.00 price target on shares of Protara Therapeutics in a research note on Monday, April 28th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $20.50.

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.