Protara Therapeutics, Inc. $TARA Shares Purchased by Baker BROS. Advisors LP

Baker BROS. Advisors LP raised its stake in Protara Therapeutics, Inc. (NASDAQ:TARA) by 81.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 971,614 shares of the company’s stock after acquiring an additional 434,782 shares during the quarter. Baker BROS. Advisors LP owned approximately 1.88% of Protara Therapeutics worth $5,179,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TARA. Geode Capital Management LLC lifted its holdings in Protara Therapeutics by 114.7% in the second quarter. Geode Capital Management LLC now owns 744,519 shares of the company’s stock valued at $2,256,000 after acquiring an additional 397,822 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Protara Therapeutics during the second quarter worth approximately $46,000. American Century Companies Inc. increased its position in shares of Protara Therapeutics by 69.8% during the second quarter. American Century Companies Inc. now owns 61,554 shares of the company’s stock worth $187,000 after purchasing an additional 25,305 shares in the last quarter. New York State Common Retirement Fund purchased a new stake in shares of Protara Therapeutics during the second quarter worth approximately $102,000. Finally, Invesco Ltd. purchased a new stake in Protara Therapeutics in the 2nd quarter valued at $73,000. 38.13% of the stock is owned by institutional investors and hedge funds.

Protara Therapeutics Trading Up 6.8%

TARA stock opened at $4.07 on Thursday. The company has a market capitalization of $228.73 million, a PE ratio of -3.04 and a beta of 1.45. Protara Therapeutics, Inc. has a 12-month low of $2.77 and a 12-month high of $7.82. The business’s fifty day moving average price is $4.83 and its 200 day moving average price is $5.48.

Protara Therapeutics (NASDAQ:TARA) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.05. Research analysts predict that Protara Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TARA shares. Oppenheimer upped their target price on Protara Therapeutics from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Wall Street Zen raised shares of Protara Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. TD Cowen restated a “buy” rating on shares of Protara Therapeutics in a report on Tuesday, March 10th. JPMorgan Chase & Co. lowered their price objective on shares of Protara Therapeutics from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Protara Therapeutics in a report on Wednesday, May 20th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Protara Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.25.

Insider Activity

In related news, insider Jacqueline Zummo sold 22,598 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $5.26, for a total value of $118,865.48. Following the sale, the insider owned 95,961 shares in the company, valued at approximately $504,754.86. The trade was a 19.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.60% of the company’s stock.

Protara Therapeutics Profile

Protara Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies for virus-driven cancers. The company’s primary areas of research include human papillomavirus (HPV)–associated malignancies, where it seeks to harness and enhance the body’s immune response to target tumor cells. Protara’s therapeutic strategy combines antigen-specific vaccination approaches with modulators of T-cell activation to improve clinical outcomes in patients with HPV-mediated disease.

Protara’s lead immunotherapy candidate is PTX-35, an investigational monoclonal antibody designed to agonize OX40, a co-stimulatory receptor on T cells.