Form 4: Opaleye Management Inc. Sells Shares of Protara Therapeutics

Opaleye Management Inc., a 10% owner of Protara Therapeutics, sold shares of the company's common stock on June 25, 2024.

Summary

• Opaleye Management Inc., a 10% owner of Protara Therapeutics, Inc. (TARA), filed a Form 4 disclosing changes in beneficial ownership.
• On June 25, 2024, Opaleye Management Inc. sold 6,500 shares of common stock at a weighted average price of $2.2581 per share.
• These shares were sold in multiple transactions at prices ranging from $2.25 to $2.26 inclusive.
• The shares were sold on behalf of Opaleye, L.P.
• Following the transaction, Opaleye, L.P. beneficially owns 2,266,359 shares.
• Opaleye also sold 6,225 shares on behalf of a managed account at a weighted average price of $2.2581.
• Following the transaction, the managed account beneficially owns 102,471 shares.
• James Silverman, President of Opaleye Management Inc., signed the report on June 27, 2024.

Sentiment

Score: 5

Explanation: Neutral sentiment as it simply reports a transaction. The sale of shares by a major holder could be interpreted negatively, but without further context, it's difficult to assess the overall impact.

Negatives

• Opaleye Management Inc. reduced its holdings in Protara Therapeutics through the sale of shares.

Industry Context

This filing reflects the trading activity of a major shareholder in Protara Therapeutics. Monitoring such filings can provide insights into investor sentiment and potential future stock performance.

Stakeholder Impact

• The sale of shares by Opaleye Management Inc. could potentially influence the share price of Protara Therapeutics, impacting shareholders.

Key Dates