Protara Therapeutics, Inc. (NASDAQ:TARA) Major Shareholder Opaleye Management Inc. Sells 46,574 Shares

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 46,574 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $2.26, for a total value of $105,257.24. Following the transaction, the insider now directly owns 90,000 shares in the company, valued at $203,400. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Tuesday, June 25th, Opaleye Management Inc. sold 12,725 shares of Protara Therapeutics stock. The shares were 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 shares were 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 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 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 Down 4.1 %

NASDAQ:TARA opened at $2.08 on Friday. Protara Therapeutics, Inc. has a 1-year low of $1.04 and a 1-year high of $5.24. The company has a 50-day moving average of $2.80 and a 200 day moving average of $2.93.

Protara Therapeutics (NASDAQ:TARA) last released its earnings results on Thursday, May 2nd. The company reported ($0.97) EPS for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.02. As a group, analysts expect that Protara Therapeutics, Inc. will post -3.56 EPS for the current fiscal year.

Institutional Investors 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) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 10,000 shares of the company’s stock, valued at approximately $40,000. Oppenheimer & Co. Inc. owned about 0.09% of Protara Therapeutics at the end of the most recent reporting period. Institutional investors own 38.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TARA shares. Oppenheimer upped their price objective on Protara Therapeutics from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. HC Wainwright restated a “buy” rating and issued a $23.00 price target on shares of Protara Therapeutics in a research 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.