Protara Therapeutics, Inc. (NASDAQ:TARA) Major Shareholder Sells $17,570.56 in Stock

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 8,288 shares of Protara Therapeutics stock in a transaction on Monday, July 1st. The stock was sold at an average price of $2.12, for a total value of $17,570.56. Following the completion of the sale, the insider now directly owns 87,500 shares of the company’s stock, valued at approximately $185,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Thursday, June 27th, Opaleye Management Inc. sold 46,574 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.26, for a total value of $105,257.24.
• On Tuesday, June 25th, Opaleye Management Inc. sold 12,725 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.26, for a total value of $28,758.50.
• On Thursday, May 30th, Opaleye Management Inc. sold 9,230 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.94, for a total value of $27,136.20.
• On Tuesday, May 21st, Opaleye Management Inc. sold 33,000 shares of Protara Therapeutics stock. The stock was sold at an average price of $3.06, for a total value of $100,980.00.
• On Friday, May 17th, Opaleye Management Inc. sold 70,885 shares of Protara Therapeutics stock. The shares were sold at an average price of $3.25, for a total value of $230,376.25.
• On Thursday, May 9th, Opaleye Management Inc. sold 30,600 shares of Protara Therapeutics stock. The shares were sold at an average price of $3.09, for a total value of $94,554.00.

Protara Therapeutics Stock Performance

Shares of Protara Therapeutics stock opened at $2.07 on Friday. The stock’s 50-day simple moving average is $2.70 and its 200-day simple moving average is $2.95. Protara Therapeutics, Inc. has a 52 week low of $1.04 and a 52 week high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($0.99) by $0.02. Research analysts predict that Protara Therapeutics, Inc. will post -3.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on TARA. Oppenheimer boosted their price target on Protara Therapeutics from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. HC Wainwright reissued a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a report on Monday, May 6th.

Hedge Funds Weigh In On Protara Therapeutics

A hedge fund recently bought a new stake in Protara Therapeutics stock. Oppenheimer & Co. Inc. bought a new position in Protara Therapeutics, Inc. (NASDAQ:TARA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the company’s stock, valued at approximately $40,000. Oppenheimer & Co. Inc. owned approximately 0.09% of Protara Therapeutics at the end of the most recent quarter. Hedge funds and other institutional investors own 38.13% of the company’s stock.

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.