RA Capital Management L.P. Buys 1,500,000 Shares of Protara Therapeutics, Inc. (NASDAQ:TARA)

RA Capital Management L.P. boosted its position in Protara Therapeutics, Inc. (NASDAQ:TARA - Free Report) by 78.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,400,000 shares of the company's stock after purchasing an additional 1,500,000 shares during the period. RA Capital Management L.P. owned about 16.48% of Protara Therapeutics worth $17,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boothbay Fund Management LLC increased its holdings in Protara Therapeutics by 411.2% in the 4th quarter. Boothbay Fund Management LLC now owns 88,941 shares of the company's stock worth $470,000 after acquiring an additional 71,543 shares during the last quarter. HBK Investments L P bought a new position in Protara Therapeutics during the fourth quarter worth about $106,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Protara Therapeutics in the fourth quarter worth about $11,880,000. Dimensional Fund Advisors LP bought a new stake in shares of Protara Therapeutics in the fourth quarter valued at approximately $111,000. Finally, Walleye Capital LLC purchased a new stake in shares of Protara Therapeutics during the 4th quarter valued at approximately $1,166,000. 38.13% of the stock is owned by institutional investors.

Protara Therapeutics Trading Up 2.9 %

TARA opened at $3.50 on Thursday. The stock has a market capitalization of $128.68 million, a P/E ratio of -1.24 and a beta of 1.60. The stock has a 50-day moving average price of $4.01 and a 200-day moving average price of $4.01. Protara Therapeutics, Inc. has a 12-month low of $1.60 and a 12-month high of $10.48.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last issued its earnings results on Wednesday, March 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.09. On average, equities research analysts predict that Protara Therapeutics, Inc. will post -3.32 EPS for the current year.

Insider Activity at Protara Therapeutics

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $4.53, for a total value of $96,144.72. Following the completion of the sale, the insider now owns 98,861 shares in the company, valued at approximately $447,840.33. The trade was a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Scotiabank initiated coverage on shares of Protara Therapeutics in a research report on Wednesday, April 16th. They set a "sector outperform" rating and a $12.00 price target for the company. Cantor Fitzgerald initiated coverage on Protara Therapeutics in a research note on Friday, March 14th. They issued an "overweight" rating on the stock. Lifesci Capital began coverage on Protara Therapeutics in a research report on Tuesday, March 11th. They set an "outperform" rating and a $22.00 price target for the company. Finally, HC Wainwright reissued a "buy" rating and set a $23.00 price objective on shares of Protara Therapeutics in a report on Monday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $20.40.

About Protara Therapeutics

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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