Velan Capital Investment Management LP Buys 1,005,000 Shares of Protara Therapeutics, Inc. (NASDAQ:TARA)

Velan Capital Investment Management LP increased its position in shares of Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) by 175.1% 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 1,579,000 shares of the company's stock after acquiring an additional 1,005,000 shares during the period. Protara Therapeutics comprises approximately 7.2% of Velan Capital Investment Management LP's portfolio, making the stock its 5th biggest holding. Velan Capital Investment Management LP owned about 7.65% of Protara Therapeutics worth $8,337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TARA. Oppenheimer & Co. Inc. boosted its holdings in Protara Therapeutics by 12.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 201,426 shares of the company's stock worth $1,064,000 after purchasing an additional 22,301 shares in the last quarter. Bailard Inc. acquired a new stake in shares of Protara Therapeutics in the fourth quarter worth about $157,000. Commonwealth Equity Services LLC boosted 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 worth $195,000 after acquiring an additional 17,572 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Protara Therapeutics by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 179,593 shares of the company's stock valued at $948,000 after acquiring an additional 9,553 shares during the last quarter. Finally, ADAR1 Capital Management LLC acquired a new stake in Protara Therapeutics in the 4th quarter worth approximately $648,000. Institutional investors and hedge funds own 38.13% of the company's stock.

Insider Transactions at Protara Therapeutics

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of the company's stock in a transaction 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 sale, the insider now directly owns 98,861 shares of the company's stock, valued at approximately $447,840.33. This represents a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 8.40% of the company's stock.

Wall Street Analysts Forecast Growth

TARA has been the topic of a number of recent analyst reports. Scotiabank began coverage on Protara Therapeutics in a research note on Wednesday, April 16th. They issued a "sector outperform" rating and a $12.00 price objective 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. Lifesci Capital began coverage on Protara Therapeutics in a report on Tuesday, March 11th. They set an "outperform" rating and a $22.00 price target for the company. Finally, Cantor Fitzgerald started coverage on Protara Therapeutics in a research report on Friday, March 14th. They issued an "overweight" rating for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $20.40.

Protara Therapeutics Stock Up 2.6%

Shares of NASDAQ TARA opened at $3.19 on Monday. Protara Therapeutics, Inc. has a twelve month low of $1.60 and a twelve month high of $10.48. The stock has a market cap of $123.08 million, a price-to-earnings ratio of -1.13 and a beta of 1.73. The company's fifty day moving average is $3.93 and its 200-day moving average is $4.14.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.18. On average, 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.

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