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Jacqueline Zummo, Chief Scientific Operations Officer at Protara Therapeutics, Inc. (NASDAQ:TARA), recently sold 21,224 shares of the company’s common stock. The shares were sold at a weighted average price of $4.53, amounting to a total transaction value of $96,144. The sale comes amid significant stock momentum, with TARA shares surging 140% over the past six months, according to InvestingPro data. This sale was conducted under a pre-established Rule 10b5-1 trading plan, which was set up by Zummo on December 23, 2024. Following this transaction, Zummo retains ownership of 98,861 shares in the company. The stock was sold in multiple transactions, with prices ranging from $4.41 to $4.69 per share. With a market capitalization of $170 million and analyst price targets ranging from $22 to $30, InvestingPro subscribers have access to 10 additional key insights about TARA’s financial health and growth prospects.
In other recent news, Protara Therapeutics reported a narrower-than-expected loss for the fourth quarter of 2024, posting an adjusted loss of $0.48 per share, which outperformed analyst expectations of a $0.59 per share loss. The company, still in the clinical development stage, did not report any revenue for the quarter. Research and development expenses rose to $9.5 million, reflecting increased activities for its lead programs, TARA-002 and IV Choline Chloride. Protara ended the year with a robust cash position of $170.3 million, supported by a $100 million public offering. The company plans to initiate its pivotal THRIVE-3 trial for IV Choline Chloride in the first half of 2025. Cantor Fitzgerald initiated coverage on Protara with an Overweight rating, citing significant potential returns from upcoming data updates. H.C. Wainwright maintained a Buy rating with a $23 price target, highlighting the promising results of TARA-002 in treating high-risk non-muscle invasive bladder cancer. Protara’s THRIVE-1 study revealed a high prevalence of choline deficiency in patients dependent on parenteral support, underscoring the need for its IV Choline Chloride therapy.
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