Toronto Dominion Bank Acquires New Stake in Protara Therapeutics, Inc. (NASDAQ:TARA)

Toronto Dominion Bank bought a new position in shares of Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 2,088,937 shares of the company's stock, valued at approximately $11,030,000. Toronto Dominion Bank owned approximately 10.13% of Protara Therapeutics at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TARA. Janus Henderson Group PLC acquired a new stake in Protara Therapeutics in the 4th quarter valued at about $11,938,000. Adage Capital Partners GP L.L.C. acquired a new stake in Protara Therapeutics in the 4th quarter valued at about $11,880,000. Blackstone Inc. acquired a new stake in Protara Therapeutics in the 4th quarter valued at about $8,870,000. RA Capital Management L.P. raised its position in Protara Therapeutics by 78.9% in the 4th quarter. RA Capital Management L.P. now owns 3,400,000 shares of the company's stock valued at $17,952,000 after purchasing an additional 1,500,000 shares in the last quarter. Finally, Integral Health Asset Management LLC acquired a new stake in Protara Therapeutics in the 4th quarter valued at about $7,392,000. Institutional investors and hedge funds own 38.13% of the company's stock.

Protara Therapeutics Price Performance

Shares of TARA traded up $0.26 during mid-day trading on Monday, reaching $3.30. 412,863 shares of the company's stock were exchanged, compared to its average volume of 772,754. The stock has a market capitalization of $127.32 million, a PE ratio of -1.17 and a beta of 1.73. The business's fifty day simple moving average is $3.66 and its 200-day simple moving average is $4.19. Protara Therapeutics, Inc. has a 52-week low of $1.60 and a 52-week high of $10.48.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on TARA. HC Wainwright reissued a "buy" rating and set a $23.00 target price on shares of Protara Therapeutics in a research report on Monday, April 28th. Lifesci Capital began coverage on Protara Therapeutics in a research report on Tuesday, March 11th. They set an "outperform" rating and a $22.00 target price on the stock. Jones Trading raised Protara Therapeutics to a "strong-buy" rating and set a $21.00 target price on the stock in a research report on Thursday, May 22nd. Cantor Fitzgerald began coverage on Protara Therapeutics in a research report on Friday, March 14th. They set an "overweight" rating on the stock. Finally, Scotiabank began coverage on Protara Therapeutics in a research report on Wednesday, April 16th. They set a "sector outperform" rating and a $12.00 target price on the stock. 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.com, Protara Therapeutics currently has an average rating of "Buy" and an average target price of $20.50.

Insider Transactions at Protara Therapeutics

In other news, insider Jacqueline Zummo sold 21,224 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $4.53, for a total transaction of $96,144.72. Following the transaction, the insider now directly owns 98,861 shares in the company, valued at approximately $447,840.33. This trade represents a 17.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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.