Opaleye Management Inc. Sells 8,288 Shares of Protara Therapeutics, Inc. (NASDAQ:TARA) Stock

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 8,288 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $2.12, for a total transaction of $17,570.56. Following the transaction, the insider now directly owns 87,500 shares in the company, valued at $185,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 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 transaction 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 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 Stock Performance

Protara Therapeutics stock opened at $2.10 on Friday. Protara Therapeutics, Inc. has a 12-month low of $1.04 and a 12-month high of $5.24. The company has a 50-day moving average price of $2.72 and a 200 day moving average price of $2.95.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.02. On average, equities research analysts expect that Protara Therapeutics, Inc. will post -3.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TARA has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $23.00 price objective on shares of Protara Therapeutics in a research report on Monday, May 6th. Oppenheimer raised their price objective on shares of Protara Therapeutics from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Protara Therapeutics stock. Oppenheimer & Co. Inc. bought a new position in shares of Protara Therapeutics, Inc. (NASDAQ:TARA) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,000 shares of the company’s stock, valued at approximately $40,000. Oppenheimer & Co. Inc. owned 0.09% of Protara Therapeutics at the end of the most recent reporting period. 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.