Protara Therapeutics, Inc. (NASDAQ:TARA) Position Increased by Bank of America Corp DE

Bank of America Corp DE increased its position in shares of Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) by 53,013.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,397 shares of the company's stock after acquiring an additional 194,031 shares during the period. Bank of America Corp DE owned about 0.94% of Protara Therapeutics worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP purchased a new stake in shares of Protara Therapeutics during the fourth quarter worth $111,000. BNP Paribas Financial Markets bought a new position in Protara Therapeutics during the fourth quarter valued at about $802,000. Geode Capital Management LLC raised its holdings in Protara Therapeutics by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 179,593 shares of the company's stock valued at $948,000 after buying an additional 9,553 shares in the last quarter. Acorn Capital Advisors LLC bought a new position in Protara Therapeutics during the fourth quarter valued at about $6,757,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in Protara Therapeutics during the fourth quarter valued at about $11,880,000. 38.13% of the stock is currently owned by hedge funds and other institutional investors.

Protara Therapeutics Stock Up 7.1%

TARA stock opened at $3.34 on Friday. Protara Therapeutics, Inc. has a twelve month low of $1.60 and a twelve month high of $10.48. The company has a market cap of $128.86 million, a PE ratio of -1.18 and a beta of 1.34. The business's 50-day simple moving average is $3.57 and its 200 day simple moving average is $4.19.

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

Analyst Ratings Changes

TARA has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on Protara Therapeutics in a research report on Friday, March 14th. They issued an "overweight" rating on the stock. Lifesci Capital initiated coverage on Protara Therapeutics in a research report on Tuesday, March 11th. They issued an "outperform" rating and a $22.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $23.00 price target on shares of Protara Therapeutics in a research report on Monday, April 28th. Scotiabank initiated coverage on Protara Therapeutics in a research report on Wednesday, April 16th. They issued a "sector outperform" rating and a $12.00 price target on the stock. Finally, Jones Trading raised Protara Therapeutics to a "strong-buy" rating and set a $21.00 price target on the stock in a research report on Thursday, May 22nd. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $20.50.

Insider Buying and Selling

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of Protara Therapeutics 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 approximately $447,840.33. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.40% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.