HighVista Strategies LLC Acquires 13,174 Shares of Tarsus Pharmaceuticals, Inc. $TARS

HighVista Strategies LLC lifted its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 112.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,854 shares of the company’s stock after acquiring an additional 13,174 shares during the quarter. HighVista Strategies LLC owned about 0.06% of Tarsus Pharmaceuticals worth $1,477,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Deep Track Capital LP grew its holdings in Tarsus Pharmaceuticals by 71.4% during the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $178,290,000 after purchasing an additional 1,250,000 shares during the last quarter. Norges Bank acquired a new position in Tarsus Pharmaceuticals during the 2nd quarter worth $19,095,000. MPM Bioimpact LLC bought a new stake in Tarsus Pharmaceuticals during the second quarter valued at about $13,834,000. TimesSquare Capital Management LLC acquired a new stake in shares of Tarsus Pharmaceuticals in the third quarter valued at about $15,898,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Tarsus Pharmaceuticals by 25.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,247,954 shares of the company’s stock worth $74,166,000 after purchasing an additional 250,367 shares during the period. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Trading Down 0.3%

Shares of Tarsus Pharmaceuticals stock opened at $67.96 on Monday. The firm has a market capitalization of $2.89 billion, a PE ratio of -41.95 and a beta of 0.55. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.85 and a quick ratio of 3.82. The company’s fifty day moving average price is $70.21 and its two-hundred day moving average price is $70.06. Tarsus Pharmaceuticals, Inc. has a 52-week low of $38.51 and a 52-week high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $151.67 million for the quarter, compared to analyst estimates of $144.56 million. Tarsus Pharmaceuticals had a negative net margin of 14.72% and a negative return on equity of 19.63%. On average, analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insiders Place Their Bets

In other news, insider Dianne C. Whitfield sold 7,397 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $80.10, for a total value of $592,499.70. Following the sale, the insider owned 38,958 shares in the company, valued at approximately $3,120,535.80. The trade was a 15.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bobak R. Azamian sold 6,000 shares of the company’s stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $82.51, for a total transaction of $495,060.00. Following the completion of the sale, the chief executive officer directly owned 857,991 shares in the company, valued at approximately $70,792,837.41. The trade was a 0.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Zacks Research lowered Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Barclays started coverage on shares of Tarsus Pharmaceuticals in a research report on Monday, December 8th. They issued an “overweight” rating and a $100.00 price target on the stock. Guggenheim boosted their price objective on shares of Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, Oppenheimer increased their target price on shares of Tarsus Pharmaceuticals from $95.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.83.

Tarsus Pharmaceuticals Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.