Millennium Management LLC Purchases 357,051 Shares of Protara Therapeutics, Inc. (NASDAQ:TARA)

Millennium Management LLC boosted its holdings in Protara Therapeutics, Inc. (NASDAQ:TARA) by 2,479.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 371,453 shares of the company’s stock after acquiring an additional 357,051 shares during the quarter. Millennium Management LLC owned 1.80% of Protara Therapeutics worth $1,961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TARA. Dimensional Fund Advisors LP bought a new position in Protara Therapeutics during the fourth quarter valued at approximately $111,000. BNP Paribas Financial Markets bought a new stake in Protara Therapeutics in the 4th quarter worth approximately $802,000. Geode Capital Management LLC raised its stake in Protara Therapeutics by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 179,593 shares of the company’s stock valued at $948,000 after buying an additional 9,553 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Protara Therapeutics during the 4th quarter valued at $11,938,000. Finally, Acorn Capital Advisors LLC bought a new position in shares of Protara Therapeutics during the 4th quarter valued at $6,757,000. 38.13% of the stock is owned by institutional investors.

Protara Therapeutics Trading Up 8.6%

NASDAQ TARA opened at $3.30 on Tuesday. Protara Therapeutics, Inc. has a 12 month low of $1.60 and a 12 month high of $10.48. The stock has a market cap of $127.32 million, a price-to-earnings ratio of -1.17 and a beta of 1.73. The company’s 50 day moving average is $3.66 and its two-hundred day moving average is $4.19.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.18. Sell-side analysts forecast that Protara Therapeutics, Inc. will post -3.32 EPS for the current year.

Insider Buying and Selling

In other Protara Therapeutics news, insider Jacqueline Zummo sold 21,224 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $4.53, for a total transaction of $96,144.72. Following the sale, the insider now directly owns 98,861 shares of the company’s stock, valued at $447,840.33. This trade represents 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. 8.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TARA has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a research note on Monday, April 28th. Jones Trading upgraded shares of Protara Therapeutics to a “strong-buy” rating and set a $21.00 target price for the company in a research report on Thursday, May 22nd. Cantor Fitzgerald assumed coverage on shares of Protara Therapeutics in a report on Friday, March 14th. They set an “overweight” rating for the company. Scotiabank started coverage on shares of Protara Therapeutics in a research report on Wednesday, April 16th. They issued a “sector outperform” rating and a $12.00 price target on the stock. Finally, Lifesci Capital started 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 for the company. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $20.50.

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.