Velan Capital Investment Management LP raised its position in Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) by 175.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,579,000 shares of the company's stock after buying an additional 1,005,000 shares during the quarter. Protara Therapeutics comprises about 7.2% of Velan Capital Investment Management LP's holdings, making the stock its 5th largest position. Velan Capital Investment Management LP owned approximately 7.65% of Protara Therapeutics worth $8,337,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of TARA. HBK Investments L P acquired a new stake in Protara Therapeutics in the 4th quarter valued at about $106,000. Squarepoint Ops LLC acquired a new stake in Protara Therapeutics in the 4th quarter valued at about $110,000. Dimensional Fund Advisors LP acquired a new stake in Protara Therapeutics in the 4th quarter valued at about $111,000. Bailard Inc. acquired a new stake in Protara Therapeutics in the 4th quarter valued at about $157,000. Finally, Commonwealth Equity Services LLC grew its stake in Protara Therapeutics by 90.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company's stock valued at $195,000 after acquiring an additional 17,572 shares during the last quarter. 38.13% of the stock is owned by institutional investors and hedge funds.
Protara Therapeutics Trading Down 1.3%
Protara Therapeutics stock traded down $0.04 during mid-day trading on Friday, reaching $3.13. The company's stock had a trading volume of 372,832 shares, compared to its average volume of 770,777. The firm has a market cap of $120.76 million, a price-to-earnings ratio of -1.11 and a beta of 1.73. The business has a 50 day moving average price of $3.83 and a 200-day moving average price of $4.15. Protara Therapeutics, Inc. has a twelve month low of $1.60 and a twelve month high of $10.48.
Protara Therapeutics (NASDAQ:TARA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.47) by $0.18. On average, equities analysts expect that Protara Therapeutics, Inc. will post -3.32 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, insider Jacqueline Zummo sold 21,224 shares of Protara Therapeutics stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $4.53, for a total value of $96,144.72. Following the transaction, the insider now owns 98,861 shares of the company's stock, valued at approximately $447,840.33. This trade represents a 17.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.40% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. HC Wainwright restated a "buy" rating and issued a $23.00 target price on shares of Protara Therapeutics in a report on Monday, April 28th. Cantor Fitzgerald began coverage on shares of Protara Therapeutics in a report on Friday, March 14th. They set an "overweight" rating on the stock. Jones Trading upgraded shares of Protara Therapeutics to a "strong-buy" rating and set a $21.00 price objective on the stock in a report on Thursday. Scotiabank began coverage on shares of Protara Therapeutics in a report on Wednesday, April 16th. They set a "sector outperform" rating and a $12.00 price objective on the stock. Finally, Lifesci Capital began coverage on shares of Protara Therapeutics in a report on Tuesday, March 11th. They set an "outperform" rating and a $22.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $20.50.
Check Out Our Latest Stock Analysis on Protara Therapeutics
Protara Therapeutics Company Profile
(
Free Report)
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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