Opaleye Management Inc. Sells 12,725 Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) Stock

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 12,725 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $2.26, for a total transaction of $28,758.50. Following the completion of the transaction, the insider now owns 102,471 shares of the company’s stock, valued at $231,584.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% 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 shares were sold at an average price of $2.26, for a total transaction of $105,257.24.
• On Thursday, May 30th, Opaleye Management Inc. sold 9,230 shares of Protara Therapeutics stock. The shares were sold at an average price of $2.94, for a total transaction of $27,136.20.
• On Tuesday, May 21st, Opaleye Management Inc. sold 33,000 shares of Protara Therapeutics stock. The shares were sold at an average price of $3.06, for a total transaction 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 transaction 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 transaction of $94,554.00.

Protara Therapeutics Price Performance

TARA opened at $2.08 on Friday. Protara Therapeutics, Inc. has a fifty-two week low of $1.04 and a fifty-two week high of $5.24. The company’s 50 day moving average price is $2.80 and its two-hundred day moving average price is $2.93.

Protara Therapeutics (NASDAQ:TARA) last posted its earnings results on Thursday, May 2nd. The company reported ($0.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.02. Equities research analysts predict that Protara Therapeutics, Inc. will post -3.56 EPS for the current year.

Institutional Investors Weigh In On Protara Therapeutics

A hedge fund recently raised its stake in Protara Therapeutics stock. Ikarian Capital LLC boosted its holdings in shares of Protara Therapeutics, Inc. (NASDAQ:TARA) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,701 shares of the company’s stock after acquiring an additional 14,037 shares during the quarter. Ikarian Capital LLC owned 0.98% of Protara Therapeutics worth $813,000 at the end of the most recent quarter. 38.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Oppenheimer lifted their price target on shares of Protara Therapeutics from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. HC Wainwright reaffirmed a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a report on Monday, May 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.