Squarepoint Ops LLC Makes New $110,000 Investment in Protara Therapeutics, Inc. (NASDAQ:TARA)

Squarepoint Ops LLC bought a new stake in Protara Therapeutics, Inc. (NASDAQ:TARA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 20,755 shares of the company’s stock, valued at approximately $110,000. Squarepoint Ops LLC owned approximately 0.10% of Protara Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RA Capital Management L.P. boosted its position in shares of Protara Therapeutics by 78.9% during the 4th quarter. RA Capital Management L.P. now owns 3,400,000 shares of the company’s stock valued at $17,952,000 after acquiring an additional 1,500,000 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Protara Therapeutics in the 4th quarter valued at about $11,938,000. Adage Capital Partners GP L.L.C. acquired a new position in Protara Therapeutics in the 4th quarter valued at about $11,880,000. Toronto Dominion Bank purchased a new stake in shares of Protara Therapeutics in the 4th quarter valued at approximately $11,030,000. Finally, Blackstone Inc. acquired a new stake in shares of Protara Therapeutics during the 4th quarter worth approximately $8,870,000. Hedge funds and other institutional investors own 38.13% of the company’s stock.

Protara Therapeutics Price Performance

Shares of TARA opened at $3.27 on Tuesday. Protara Therapeutics, Inc. has a 12 month low of $1.60 and a 12 month high of $10.48. The stock’s 50-day moving average is $3.55 and its two-hundred day moving average is $4.23. The stock has a market cap of $126.16 million, a PE ratio of -1.16 and a beta of 1.34.

Protara Therapeutics (NASDAQ:TARA) last released its earnings results on Thursday, May 8th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.18. On average, research analysts anticipate that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current year.

Insider Activity

In other news, insider Jacqueline Zummo sold 21,224 shares of the firm’s stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 8.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TARA. HC Wainwright restated a “buy” rating and set a $23.00 price target on shares of Protara Therapeutics in a research report on Monday, April 28th. Cantor Fitzgerald assumed coverage on Protara Therapeutics in a research report on Friday, March 14th. They issued an “overweight” rating for the company. Jones Trading upgraded shares of Protara Therapeutics to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Thursday, May 22nd. Lifesci Capital started coverage on shares of Protara Therapeutics in a report on Tuesday, March 11th. They issued an “outperform” rating and a $22.00 price objective for the company. Finally, Scotiabank began coverage on shares of Protara Therapeutics in a report on Wednesday, April 16th. They set a “sector outperform” rating and a $12.00 target price on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average 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.