Driehaus Capital Management LLC Buys Shares of 517,152 Protara Therapeutics, Inc. (NASDAQ:TARA)

Driehaus Capital Management LLC purchased a new position in Protara Therapeutics, Inc. (NASDAQ:TARA) during the fourth quarter, HoldingsChannel reports. The fund purchased 517,152 shares of the company’s stock, valued at approximately $2,731,000.

Other hedge funds have also recently bought and sold shares of the company. HBK Investments L P acquired a new stake in Protara Therapeutics in the fourth quarter valued at $106,000. Dimensional Fund Advisors LP purchased a new position in Protara Therapeutics during the 4th quarter valued at about $111,000. Bailard Inc. acquired a new position in Protara Therapeutics during the fourth quarter worth about $157,000. Commonwealth Equity Services LLC lifted its holdings in shares of 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 purchasing an additional 17,572 shares in the last quarter. Finally, 683 Capital Management LLC acquired a new stake in shares of Protara Therapeutics in the fourth quarter valued at approximately $330,000. 38.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on TARA. Lifesci Capital initiated coverage on Protara Therapeutics in a research note 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 research report on Wednesday, April 16th. They issued a “sector outperform” rating and a $12.00 price objective on the stock. Cantor Fitzgerald assumed coverage on Protara Therapeutics in a research report on Friday, March 14th. They set an “overweight” rating for the company. Finally, HC Wainwright restated a “buy” rating and issued a $23.00 target price on shares of Protara Therapeutics in a report on Monday, April 28th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Protara Therapeutics presently has a consensus rating of “Buy” and an average price target of $20.40.

Protara Therapeutics Trading Down 3.9 %

Protara Therapeutics stock opened at $3.24 on Friday. The stock has a fifty day moving average price of $4.00 and a 200 day moving average price of $4.08. Protara Therapeutics, Inc. has a 52 week low of $1.60 and a 52 week high of $10.48. The firm has a market capitalization of $125.00 million, a P/E ratio of -1.15 and a beta of 1.73.

Protara Therapeutics (NASDAQ:TARA) last announced its quarterly earnings data 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. As a group, equities analysts predict that Protara Therapeutics, Inc. will post -3.32 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jacqueline Zummo sold 21,224 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $4.53, for a total value of $96,144.72. Following the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.40% of the stock is currently owned by insiders.

Protara Therapeutics Company 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.