Adage Capital Partners GP L.L.C. Buys New Stake in Protara Therapeutics, Inc. (NASDAQ:TARA)

Adage Capital Partners GP L.L.C. bought a new stake in Protara Therapeutics, Inc. (NASDAQ:TARA) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,250,000 shares of the company’s stock, valued at approximately $11,880,000. Adage Capital Partners GP L.L.C. owned about 0.11% of Protara Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new position in shares of Protara Therapeutics in the 4th quarter valued at $111,000. Bailard Inc. purchased a new position in Protara Therapeutics during the 4th quarter worth $157,000. Commonwealth Equity Services LLC grew its position in Protara Therapeutics by 90.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company’s stock worth $195,000 after purchasing an additional 17,572 shares during the last quarter. Geode Capital Management LLC grew its position in Protara Therapeutics by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock worth $311,000 after purchasing an additional 29,514 shares during the last quarter. Finally, Barclays PLC purchased a new position in Protara Therapeutics during the 4th quarter worth $492,000. 38.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TARA has been the topic of several research reports. Lifesci Capital initiated coverage on shares of Protara Therapeutics in a research report on Tuesday, March 11th. They set an “outperform” rating and a $22.00 price objective on the stock. Cantor Fitzgerald initiated coverage on shares of Protara Therapeutics in a research report on Friday, March 14th. They set an “overweight” rating on the stock. Scotiabank initiated coverage on shares of Protara Therapeutics in a research report on Wednesday, April 16th. They set a “sector outperform” rating and a $12.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $23.00 price objective on shares of Protara Therapeutics in a research report on Thursday, March 6th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.40.

Insider Transactions at Protara Therapeutics

In other news, insider Jacqueline Zummo sold 21,224 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $4.53, for a total transaction of $96,144.72. Following the completion of the transaction, the insider now directly owns 98,861 shares of the company’s stock, valued at approximately $447,840.33. This represents a 17.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 12.50% of the company’s stock.

Protara Therapeutics Trading Up 5.1 %

Shares of TARA stock opened at $4.32 on Monday. The company has a market cap of $158.83 million, a price-to-earnings ratio of -1.53 and a beta of 1.60. The stock has a 50 day simple moving average of $4.04 and a 200-day simple moving average of $4.01. Protara Therapeutics, Inc. has a 12-month low of $1.60 and a 12-month high of $10.48.

Protara Therapeutics (NASDAQ:TARA) last issued its earnings results on Wednesday, March 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.09. On average, equities analysts forecast that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current fiscal year.

Protara Therapeutics 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.