Insider Selling: Protara Therapeutics, Inc. (NASDAQ:TARA) Major Shareholder Sells 11,396 Shares of Stock

Protara Therapeutics, Inc. (NASDAQ:TARA) major shareholder Opaleye Management Inc. sold 11,396 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $2.44, for a total transaction of $27,806.24. Following the completion of the transaction, the insider now directly owns 56,500 shares of the company’s stock, valued at $137,860. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% 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, July 11th, Opaleye Management Inc. sold 47,993 shares of Protara Therapeutics stock. The shares were sold at an average price of $2.40, for a total value of $115,183.20.
• On Tuesday, July 9th, Opaleye Management Inc. sold 8,497 shares of Protara Therapeutics stock. The stock was sold at an average price of $2.21, for a total value of $18,778.37.
• On Monday, July 1st, Opaleye Management Inc. sold 8,288 shares of Protara Therapeutics stock. The shares were sold at an average price of $2.12, for a total value of $17,570.56.
• 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 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 stock was 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 stock was 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 value of $94,554.00.

Protara Therapeutics Price Performance

Shares of TARA opened at $2.23 on Friday. The firm has a 50-day moving average of $2.57 and a 200-day moving average of $2.99. The company has a market cap of $45.92 million, a PE ratio of -0.60 and a beta of 1.85. Protara Therapeutics, Inc. has a one year low of $1.04 and a one year high of $5.24.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly 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. Analysts expect that Protara Therapeutics, Inc. will post -3.56 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Protara Therapeutics stock. Oppenheimer & Co. Inc. acquired a new stake in Protara Therapeutics, Inc. (NASDAQ:TARA) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 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. 38.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a research report on Monday, May 6th. Oppenheimer raised their target price on shares of Protara Therapeutics from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd.

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.