Velan Capital Investment Management LP Acquires 1,005,000 Shares of Protara Therapeutics, Inc. (NASDAQ:TARA)

Velan Capital Investment Management LP boosted its holdings in Protara Therapeutics, Inc. (NASDAQ:TARA) by 175.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,579,000 shares of the company’s stock after acquiring an additional 1,005,000 shares during the period. Protara Therapeutics comprises 7.2% of Velan Capital Investment Management LP’s holdings, making the stock its 5th biggest position. Velan Capital Investment Management LP owned approximately 0.08% of Protara Therapeutics worth $8,337,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Squarepoint Ops LLC bought a new position in shares of Protara Therapeutics during the fourth quarter worth approximately $110,000. Toronto Dominion Bank bought a new position in Protara Therapeutics in the fourth quarter valued at approximately $11,030,000. Millennium Management LLC lifted its stake in Protara Therapeutics by 2,479.2% during the fourth quarter. Millennium Management LLC now owns 371,453 shares of the company’s stock worth $1,961,000 after purchasing an additional 357,051 shares during the last quarter. Integral Health Asset Management LLC acquired a new stake in shares of Protara Therapeutics in the 4th quarter valued at $7,392,000. Finally, J. Goldman & Co LP bought a new position in shares of Protara Therapeutics in the 4th quarter valued at $748,000. Institutional investors and hedge funds own 38.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Lifesci Capital initiated coverage on Protara Therapeutics in a research note on Tuesday, March 11th. They set an “outperform” rating and a $22.00 target price for the company. Cantor Fitzgerald started coverage on shares of Protara Therapeutics in a report on Friday, March 14th. They set an “overweight” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $23.00 price objective on shares of Protara Therapeutics in a research note on Monday, April 28th. Finally, Scotiabank assumed coverage on shares of Protara Therapeutics in a research report on Wednesday, April 16th. They issued a “sector outperform” rating and a $12.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Protara Therapeutics presently has an average rating of “Buy” and an average target price of $20.40.

Protara Therapeutics Stock Performance

Shares of NASDAQ:TARA opened at $3.19 on Monday. The firm has a market cap of $123.08 million, a P/E ratio of -1.13 and a beta of 1.73. Protara Therapeutics, Inc. has a 52-week low of $1.60 and a 52-week high of $10.48. The business’s 50 day simple moving average is $3.93 and its two-hundred day simple moving average is $4.14.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.18. On average, equities analysts forecast that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current fiscal year.

Insider Transactions at Protara Therapeutics

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of the business’s stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $4.53, for a total value of $96,144.72. Following the transaction, the insider now directly owns 98,861 shares in the company, valued at $447,840.33. The trade was a 17.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.40% of the company’s stock.

Protara Therapeutics Company Profile

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.