Geode Capital Management LLC Increases Stake in Protara Therapeutics, Inc. (NASDAQ:TARA)

Geode Capital Management LLC grew its position in Protara Therapeutics, Inc. (NASDAQ:TARA) by 21.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 170,040 shares of the company’s stock after purchasing an additional 29,514 shares during the period. Geode Capital Management LLC’s holdings in Protara Therapeutics were worth $311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. XTX Topco Ltd purchased a new stake in shares of Protara Therapeutics in the third quarter valued at $60,000. Renaissance Technologies LLC increased its stake in Protara Therapeutics by 77.8% in the 2nd quarter. Renaissance Technologies LLC now owns 150,400 shares of the company’s stock worth $313,000 after buying an additional 65,800 shares during the period. Marshall Wace LLP purchased a new position in Protara Therapeutics in the 2nd quarter worth about $161,000. Oppenheimer & Co. Inc. increased its stake in Protara Therapeutics by 40.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 179,125 shares of the company’s stock worth $328,000 after buying an additional 51,944 shares during the period. Finally, CVI Holdings LLC purchased a new position in Protara Therapeutics in the 2nd quarter worth about $630,000. Hedge funds and other institutional investors own 38.13% of the company’s stock.

Protara Therapeutics Price Performance

TARA stock opened at $5.31 on Tuesday. Protara Therapeutics, Inc. has a 12 month low of $1.60 and a 12 month high of $10.48. The firm’s 50-day moving average is $4.34 and its 200 day moving average is $2.85. The company has a market capitalization of $109.55 million, a PE ratio of -1.88 and a beta of 1.56.

Protara Therapeutics (NASDAQ:TARA) last issued its earnings results on Tuesday, November 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). Sell-side analysts forecast that Protara Therapeutics, Inc. will post -2.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TARA. Guggenheim reaffirmed a “buy” rating and issued a $20.00 price target on shares of Protara Therapeutics in a research note on Friday, December 6th. HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price target on shares of Protara Therapeutics in a research note on Friday, December 6th.

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.