683 Capital Management LLC Buys New Shares in Protara Therapeutics, Inc. (NASDAQ:TARA)

683 Capital Management LLC purchased a new stake in shares of Protara Therapeutics, Inc. (NASDAQ:TARA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 62,429 shares of the company’s stock, valued at approximately $330,000. 683 Capital Management LLC owned approximately 0.30% of Protara Therapeutics as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Acorn Capital Advisors LLC purchased a new position in shares of Protara Therapeutics during the 4th quarter valued at about $6,757,000. RA Capital Management L.P. raised its stake in shares of Protara Therapeutics by 78.9% during the fourth quarter. RA Capital Management L.P. now owns 3,400,000 shares of the company’s stock worth $17,952,000 after acquiring an additional 1,500,000 shares in the last quarter. Boothbay Fund Management LLC raised its stake in shares of Protara Therapeutics by 411.2% during the fourth quarter. Boothbay Fund Management LLC now owns 88,941 shares of the company’s stock worth $470,000 after acquiring an additional 71,543 shares in the last quarter. HBK Investments L P bought a new stake in shares of Protara Therapeutics in the 4th quarter worth approximately $106,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Protara Therapeutics in the 4th quarter valued at $11,880,000. Institutional investors own 38.13% of the company’s stock.

Insider Activity at Protara Therapeutics

In other news, insider Jacqueline Zummo sold 21,224 shares of the firm’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 completion of the sale, the insider now directly owns 98,861 shares of the company’s stock, valued at approximately $447,840.33. This trade represents a 17.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TARA has been the topic of a number of analyst reports. Scotiabank began 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. Lifesci Capital began coverage on Protara Therapeutics in a report on Tuesday, March 11th. They issued an “outperform” rating and a $22.00 price objective on the stock. Cantor Fitzgerald initiated coverage on Protara Therapeutics in a report on Friday, March 14th. They set an “overweight” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $23.00 price target on shares of Protara Therapeutics in a research note on Monday, April 28th. 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 an average target price of $20.40.

Protara Therapeutics Trading Up 3.5 %

Protara Therapeutics stock opened at $3.58 on Friday. The firm has a market cap of $131.63 million, a P/E ratio of -1.27 and a beta of 1.60. Protara Therapeutics, Inc. has a 1-year low of $1.60 and a 1-year high of $10.48. The firm has a 50-day moving average of $4.01 and a 200-day moving average of $4.04.

Protara Therapeutics (NASDAQ:TARA) last released its quarterly earnings data on Wednesday, March 12th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.57) by $0.09. Research analysts forecast that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current fiscal year.

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.