Renaissance Technologies LLC Decreases Position in Protara Therapeutics, Inc. (NASDAQ:TARA)

Renaissance Technologies LLC reduced its stake in Protara Therapeutics, Inc. (NASDAQ:TARA) by 57.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 142,300 shares of the company’s stock after selling 194,440 shares during the period. Renaissance Technologies LLC’s holdings in Protara Therapeutics were worth $751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. increased its position in shares of Protara Therapeutics by 12.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 201,426 shares of the company’s stock worth $1,064,000 after purchasing an additional 22,301 shares in the last quarter. Geode Capital Management LLC grew 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 worth $948,000 after buying an additional 9,553 shares during the last quarter. ADAR1 Capital Management LLC acquired a new position in Protara Therapeutics during the fourth quarter worth approximately $648,000. Commonwealth Equity Services LLC lifted its stake in Protara Therapeutics by 90.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 37,000 shares of the company’s stock valued at $195,000 after buying an additional 17,572 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Protara Therapeutics in the fourth quarter valued at approximately $157,000. Institutional investors and hedge funds own 38.13% of the company’s stock.

Protara Therapeutics Trading Down 1.1 %

TARA opened at $3.46 on Friday. Protara Therapeutics, Inc. has a twelve month low of $1.60 and a twelve month high of $10.48. The stock has a market cap of $127.21 million, a PE ratio of -1.23 and a beta of 1.60. The business’s 50 day moving average is $4.01 and its 200-day moving average is $4.02.

Protara Therapeutics (NASDAQ:TARA) last announced its earnings results on Wednesday, March 12th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.09. As a group, analysts forecast that Protara Therapeutics, Inc. will post -3.32 EPS for the current year.

Insider Activity

In other news, insider Jacqueline Zummo sold 21,224 shares of the company’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 completion of the sale, the insider now owns 98,861 shares in the company, valued at approximately $447,840.33. This represents a 17.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $23.00 price target on shares of Protara Therapeutics in a research report on Monday. Lifesci Capital started coverage on Protara Therapeutics in a report on Tuesday, March 11th. They issued an “outperform” rating and a $22.00 target price on the stock. Scotiabank started coverage on Protara Therapeutics in a report on Wednesday, April 16th. They set a “sector outperform” rating and a $12.00 price target for the company. Finally, Cantor Fitzgerald assumed coverage on shares of Protara Therapeutics in a research note on Friday, March 14th. They issued an “overweight” rating on the stock. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $20.40.

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.