Stock Markets
Opaleye Management Inc. sells shares worth nearly $18k in Protara Therapeutics
Opaleye Management Inc., a notable investment management firm, has recently sold shares in Protara Therapeutics, Inc. (NASDAQ:TARA), a company specializing in biological products. The transactions, which took place on July 1, 2024, involved the sale of a total of 8,288 shares of common stock at an average price of $2.1233, amounting to nearly $18,000.
The sales were carried out in multiple transactions with prices ranging from $2.1021 to $2.1611. This information comes from a recent Form 4 filing with the Securities and Exchange Commission, which details the trading activities of the company’s insiders.
The bulk of the shares, specifically 5,788 shares, were sold by Opaleye, L.P., a fund managed by Opaleye Management Inc., leaving them with a remaining interest of 2,213,474 shares. Additionally, a separately managed account under Opaleye’s portfolio management offloaded 2,500 shares, resulting in an ownership of 87,500 shares post-transaction.
The sales reflect transactions by an entity that is considered a ten percent owner of Protara Therapeutics, thus making these disclosures significant for investors monitoring insider activity. Opaleye Management, through its control of Opaleye, L.P. and the managed account, may be deemed to beneficially own the shares held by both entities.
Investors and the market at large often keep a close eye on insider trading patterns as they can provide insights into a company’s internal perspective and future prospects. The recent sales by Opaleye Management Inc. are now part of the public record and provide additional data points for those analyzing Protara Therapeutics’ stock performance and ownership structure.
In other recent news, Protara Therapeutics has been making significant strides in its various clinical trials. The company recently announced positive three-month data from its ongoing clinical studies of TARA-002 in patients with high-risk non-muscle invasive bladder cancer (NMIBC), which has prompted Oppenheimer to increase the stock price target to $30 from the previous $26. TD Cowen also maintained a positive outlook on Protara Therapeutics, reiterating a Buy rating and a $50.00 price target for the company’s stock, citing the encouraging results from the trials.
Protara Therapeutics also recently completed a $45 million private investment in public equity (PIPE) deal, attracting several prominent life science funds. This financial boost is expected to extend the company’s cash runway into 2026, providing a stable financial platform for continued development.
The company is also planning to initiate a registrational trial for IV Choline Chloride, targeting parenteral nutrition (PN) patients, in the first half of 2025. This comes after discussions with the U.S. Food and Drug Administration (FDA), expanding the drug’s potential use to a broader patient population.
Furthermore, Protara Therapeutics has announced a private placement financing deal expected to generate approximately $45 million in gross proceeds. The proceeds from this private placement, combined with existing cash reserves, are anticipated to fund operations into 2026.
These are the recent developments that have been reported about Protara Therapeutics.
InvestingPro Insights
As Protara Therapeutics, Inc. (NASDAQ:TARA) experiences insider trading activity, investors seeking a deeper understanding of the company’s financial health can turn to real-time data from InvestingPro. With a market capitalization of $43.03 million USD and a concerning price-to-earnings (P/E) ratio of -0.55, Protara’s financial landscape presents a complex picture. Further analysis shows that the stock’s price is currently at 40.08% of its 52-week high, and it closed at $2.03 USD in the previous session.
InvestingPro Tips for Protara Therapeutics highlight several critical factors that investors may want to consider. Notably, the company holds more cash than debt on its balance sheet, which is a positive sign for financial stability. Additionally, two analysts have revised their earnings upwards for the upcoming period, potentially indicating a more optimistic outlook for the company’s financial performance. However, it’s important to note that Protara is quickly burning through cash and suffers from weak gross profit margins, which could raise concerns about its long-term sustainability.
For investors interested in a comprehensive analysis, there are 13 additional InvestingPro Tips available for Protara Therapeutics, which can be accessed by visiting https://www.investing.com/pro/TARA. To deepen your investment research, consider utilizing the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, offering you an even greater array of tools and insights.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By Maggie Fick and Ahmed Aboulenein
WASHINGTON (Reuters) – Members of Donald Trump’s presidential transition team are laying the groundwork for the United States to withdraw from the World Health Organization on the first day of his second term, according to a health law expert familiar with the discussions.
“I have it on good authority that he plans to withdraw, probably on Day One or very early in his administration,” said Lawrence Gostin, professor of global health at Georgetown University in Washington and director of the WHO Collaborating Center on National and Global Health (NS:) Law.
The Financial Times was first to report on the plans, citing two experts. The second expert, former White House COVID-19 response coordinator Ashish Jha, was not immediately available for comment.
The Trump transition team did not immediately respond to a Reuters request for comment.
The plan, which aligns with Trump’s longstanding criticism of the U.N. health agency, would mark a dramatic shift in U.S. global health policy and further isolate Washington from international efforts to battle pandemics.
Trump has nominated several critics of the organization to top public health positions, including Robert F. Kennedy Jr., a vaccine skeptic who is up for the post of secretary of Health and Human Services, which oversees all major U.S. health agencies including the CDC and FDA.
Trump initiated the year-long withdrawal process from the WHO in 2020 but six months later his successor, President Joe Biden, reversed the decision.
Trump has argued that the agency failed to hold China accountable for the early spread of COVID-19. He has repeatedly called the WHO a puppet of Beijing and vowed to redirect U.S. contributions to domestic health initiatives.
A WHO spokesperson declined to directly comment but referred Reuters to comments by WHO Director-General Tedros Adhanom Ghebreyesus at a press briefing on Dec. 10 in which he was asked whether he was concerned that the Trump administration would withdraw from the organization.
Tedros said at the time that the WHO needed to give the U.S. time and space for the transition. He also voiced confidence that states could finalize a pandemic agreement by May 2025.
Critics warn that a U.S. withdrawal could undermine global disease surveillance and emergency response systems.
“The U.S. would lose influence and clout in global health and China would fill the vacuum. I can’t imagine a world without a robust WHO. But U.S. withdrawal would severely weaken the agency,” Gostin said.
U.Today – MicroStrategy has made headlines again by purchasing 5,262 BTC for approximately $561 million at an average price of $106,662 per BTC. The company now holds a staggering 444,262 BTC, accumulated at a total cost of approximately $27.7 billion, with an average purchase price of $62,257 per BTC.
Despite impressive returns of 47.4% since the beginning of the quarter and 73.7% since the beginning of the year, skepticism about the company’s strategy is growing.
It is believed that to sustain its purchases, MicroStrategy raises capital through methods such as issuing convertible and corporate bonds, securing credit lines and selling shares.
This cycle appears to operate as follows: shares are sold to acquire the cryptocurrency, and the rising price per BTC increases asset value, enabling further loans, which are then reinvested in more purchases.
Some observers warn that a significant decline in Bitcoin’s price or MicroStrategy’s stock could trigger a cascade effect. A sharp fall in MSTR shares would weaken the collateral backing its loans, potentially leading to forced asset sales, including BTC.
This scenario could exert downward pressure on the broader cryptocurrency market, as the company holds 2.2% of the global Bitcoin supply now.
Thus, while some view Michael Saylor’s approach as a bold bid to cement the cryptocurrency’s role in the financial system, others see it as unsustainable. History offers a cautionary note: in 2000, MSTR shares surged to $333 before plummeting 99%, a collapse that took 24 years to recover from.
National homebuilder ranked No. 12 on inaugural list ranking companies based on trust
SCOTTSDALE, Ariz., Dec. 23, 2024 /PRNewswire/ — With a longstanding reputation for trust, national homebuilder and land developer Taylor Morrison (NYSE:) (NYSE: ™HC) has been recognized by Forbes on their inaugural list of the Most Trusted Companies in America. The homebuilder ranked No. 12 out of 300 companies across all industries.
“There are few things more powerful than trust and it’s something we strive to earn amongst all company stakeholders, from our customers to our team members, our shareholders, and our local communities,” said Taylor Morrison Chairman and CEO Sheryl Palmer. “To be included on this esteemed list in its inaugural year is especially meaningful and these awards are important reminders of the relationships we’re building across all aspects of our business.”
Fueled by hundreds of millions of data points, the Most Trusted Companies in America list combines data on a wide range of factors across four categories: employee trust, customer trust, investor trust and media sentiment. The ranking was created in partnership with research companies HundredX, Signal AI and Glassdoor.
Taylor Morrison also earned the No. 67 spot on Forbes’ inaugural America’s Best Companies list. The ranking is Forbes’ most comprehensive company ranking to date and factored in ratings for financial performance, customer and employee satisfaction, cybersecurity, sustainability, companies’ remote work policies, media coverage and more. Forbes’ America’s Best Companies list assessed more than 60 metrics across 11 primary categories to identify which organizations excel across the board. Of the more than 2,000 U.S.-based publicly traded companies that were eligible, only 300 qualified for each list.
In addition to being named among the Most Trusted and Best Companies in America by Forbes, Taylor Morrison holds several additional accolades including being named on Newsweek’s America’s Most Responsible Companies and America’s Greenest Companies lists, U.S. News & World Report’s Best Companies to Work For list, the American Opportunity (SO:) Index, America’s Most Trusted ® Home Builder for nine years, Hearthstone’s 2021 BUILDER Humanitarian Award, and inclusion on the Fortune 500 list since 2021.
About Taylor Morrison
Headquartered in Scottsdale, Arizona, Taylor Morrison is one of the nation’s leading homebuilders and developers. We serve a wide array of consumers from coast to coast, including first-time, move-up, luxury and resort lifestyle homebuyers and renters under our family of brands”including Taylor Morrison, Esplanade and Yardly. From 2016-2024, Taylor Morrison has been recognized as America’s Most Trusted ® Builder by Lifestory Research. Our long-standing commitment to sustainable operations is highlighted in our annual Sustainability and Belonging Report.
For more information about Taylor Morrison, please visit www.taylormorrison.com.
CONTACT:
media@taylormorrison.com
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