RA Capital Management L.P. Raises Stock Holdings in Protara Therapeutics, Inc. (NASDAQ:TARA)

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

Several other hedge funds have also modified their holdings of TARA. Geode Capital Management LLC grew its holdings in Protara Therapeutics by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 170,040 shares of the company's stock valued at $311,000 after buying an additional 29,514 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Protara Therapeutics by 12.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 201,426 shares of the company's stock worth $1,064,000 after buying an additional 22,301 shares during the last quarter. Bailard Inc. acquired a new position in Protara Therapeutics during the 4th quarter worth approximately $157,000. Commonwealth Equity Services LLC raised its holdings in Protara Therapeutics by 90.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company's stock worth $195,000 after purchasing an additional 17,572 shares during the last quarter. Finally, ADAR1 Capital Management LLC acquired a new position in Protara Therapeutics in the 4th quarter valued at about $648,000. 38.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jacqueline Zummo sold 21,224 shares of the stock in a transaction 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 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 accessible through this link. 12.50% of the stock is currently owned by company insiders.

Protara Therapeutics Trading Down 1.0 %

Shares of Protara Therapeutics stock traded down $0.04 during trading on Tuesday, hitting $3.36. The stock had a trading volume of 219,800 shares, compared to its average volume of 348,344. Protara Therapeutics, Inc. has a 12 month low of $1.60 and a 12 month high of $10.48. The firm has a market cap of $129.43 million, a price-to-earnings ratio of -1.19 and a beta of 1.73. The business's 50-day moving average is $4.01 and its 200 day moving average is $4.08.

Protara Therapeutics (NASDAQ:TARA - Get Free Report) last released its earnings results on Wednesday, March 12th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.09. As a group, equities analysts expect that Protara Therapeutics, Inc. will post -3.32 EPS for the current year.

Wall Street Analyst Weigh In

TARA has been the subject of a number of recent research reports. HC Wainwright reiterated a "buy" rating and issued a $23.00 target price on shares of Protara Therapeutics in a research note on Monday, April 28th. Lifesci Capital started coverage on shares of Protara Therapeutics in a research report on Tuesday, March 11th. They set an "outperform" rating and a $22.00 target price for the company. Cantor Fitzgerald began coverage on shares of Protara Therapeutics in a research report on Friday, March 14th. They set an "overweight" rating on the stock. Finally, Scotiabank initiated coverage on Protara Therapeutics in a report on Wednesday, April 16th. They set a "sector outperform" rating and a $12.00 target price for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, 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.