5AM Venture Management LLC Makes New $4.22 Million Investment in Protara Therapeutics, Inc. (NASDAQ:TARA)

5AM Venture Management LLC acquired a new stake in shares of Protara Therapeutics, Inc. (NASDAQ:TARA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 800,000 shares of the company’s stock, valued at approximately $4,224,000. Protara Therapeutics comprises about 1.0% of 5AM Venture Management LLC’s portfolio, making the stock its 23rd largest holding.

A number of other hedge funds have also modified their holdings of TARA. HBK Investments L P purchased a new position in Protara Therapeutics in the 4th quarter worth about $106,000. Dimensional Fund Advisors LP purchased a new stake in shares of Protara Therapeutics in the 4th quarter valued at approximately $111,000. Bailard Inc. purchased a new position in Protara Therapeutics during the 4th quarter worth approximately $157,000. Commonwealth Equity Services LLC boosted its position 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 worth $195,000 after buying an additional 17,572 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Protara Therapeutics by 21.0% during the third quarter. Geode Capital Management LLC now owns 170,040 shares of the company’s stock valued at $311,000 after buying an additional 29,514 shares in the last quarter. 38.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Protara Therapeutics

In related news, insider Jacqueline Zummo sold 21,224 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.50% of the company’s stock.

Analyst Ratings Changes

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

Protara Therapeutics Stock Performance

NASDAQ:TARA opened at $3.46 on Friday. The company has a market capitalization of $127.21 million, a P/E ratio of -1.23 and a beta of 1.60. The stock’s 50 day moving average price is $4.01 and its 200 day moving average price is $4.02. Protara Therapeutics, Inc. has a 52 week low of $1.60 and a 52 week high of $10.48.

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

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.