LPL Financial LLC Cuts Stake in Protara Therapeutics, Inc. (NASDAQ:TARA)

LPL Financial LLC lessened its holdings in Protara Therapeutics, Inc. (NASDAQ:TARA) by 21.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,000 shares of the company’s stock after selling 10,000 shares during the period. LPL Financial LLC’s holdings in Protara Therapeutics were worth $190,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Oppenheimer & Co. Inc. grew its stake in Protara Therapeutics by 12.4% during the 4th 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 increased its stake 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 worth $311,000 after buying an additional 29,514 shares during the period. Commonwealth Equity Services LLC raised its holdings 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 acquiring an additional 17,572 shares in the last quarter. Finally, Bailard Inc. purchased a new position in Protara Therapeutics in the fourth quarter worth approximately $157,000. Institutional investors and hedge funds own 38.13% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Protara Therapeutics

In related news, insider Jacqueline Zummo sold 21,224 shares of Protara Therapeutics stock in a transaction on Wednesday, March 26th. The shares were 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 in the company, valued at $447,840.33. This trade represents a 17.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 12.50% of the stock is currently owned by insiders.

Protara Therapeutics Trading Down 3.4 %

Shares of NASDAQ TARA opened at $3.40 on Wednesday. The stock has a market cap of $125.01 million, a P/E ratio of -1.21 and a beta of 1.60. The stock has a 50 day moving average of $4.02 and a two-hundred day moving average of $4.02. Protara Therapeutics, Inc. has a twelve month low of $1.60 and a twelve month high of $10.48.

Protara Therapeutics (NASDAQ:TARA) last issued its quarterly earnings results on Wednesday, March 12th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.09. As a group, research analysts predict that Protara Therapeutics, Inc. will post -3.32 earnings per share for the current year.

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.