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Guggenheim gives a Buy recommendation for Protara Therapeutics Inc (TARA)

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Protara Therapeutics Inc’s recent filing unveils that its 10% Owner Opaleye Management Inc. unloaded Company’s shares for reported $0.47 million on May 10 ’24. In the deal valued at $3.11 per share,151,700 shares were sold. As a result of this transaction, Opaleye Management Inc. now holds 2,380,294 shares worth roughly $7.14 million.

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Then, Opaleye Management Inc. sold 30,600 shares, generating $94,526 in total proceeds. Upon selling the shares at $3.09, the 10% Owner now owns 2,531,994 shares.

A number of analysts have revised their coverage, including H.C. Wainwright’s analysts, who began to cover the stock in early June with a ‘”a Buy”‘ rating. Oppenheimer began covering TARA with “an Outperform” recommendation on February 17, 2021. Cowen started covering the stock on October 19, 2020. It rated TARA as “an Outperform”.

Price Performance Review of TARA

On Friday, Protara Therapeutics Inc [NASDAQ:TARA] saw its stock jump 0.67% to $3.00. Over the last five days, the stock has gained 3.09%. Protara Therapeutics Inc shares have risen nearly 59.99% since the year began. Nevertheless, the stocks have fallen -7.98% over the past one year. While a 52-week high of $5.24 was reached on 04/05/24, a 52-week low of $1.04 was recorded on 01/22/24. SMA at 50 days reached $3.45, while 200 days put it at $2.42. A total of 0.92 million shares were traded, compared to the trading of 0.95 million shares in the previous session.

Levels Of Support And Resistance For TARA Stock

The 24-hour chart illustrates a support level at 2.80, which if violated will result in even more drops to 2.60. On the upside, there is a resistance level at 3.27. A further resistance level may holdings at 3.54. The Relative Strength Index (RSI) on the 14-day chart is 46.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 57.62%. Stochastics %K at 36.81% indicates the stock is a holding.

The most recent change occurred on July 29, 2020 when Guggenheim began covering the stock and recommended ‘”a Buy”‘ rating along with a $50 price target.

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