Tarsus Pharmaceuticals, Inc. $TARS Shares Purchased by Seven Fleet Capital Management LP

Seven Fleet Capital Management LP raised its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 340.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,800 shares of the company’s stock after buying an additional 15,300 shares during the period. Seven Fleet Capital Management LP’s holdings in Tarsus Pharmaceuticals were worth $1,389,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Tarsus Pharmaceuticals by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock worth $1,137,000 after acquiring an additional 1,217 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Tarsus Pharmaceuticals by 2.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock valued at $3,659,000 after purchasing an additional 1,394 shares during the last quarter. Jane Street Group LLC grew its stake in Tarsus Pharmaceuticals by 105.8% during the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock valued at $537,000 after purchasing an additional 190,000 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Tarsus Pharmaceuticals by 402.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock valued at $5,696,000 after purchasing an additional 112,637 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Tarsus Pharmaceuticals by 12.3% during the 2nd quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock worth $37,614,000 after purchasing an additional 101,978 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TARS has been the topic of a number of recent analyst reports. Guggenheim cut their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. HC Wainwright reaffirmed a “buy” rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Mizuho reduced their price objective on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a report on Friday, April 24th. They set an “outperform” rating and a $98.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.17.

Insider Transactions at Tarsus Pharmaceuticals

In related news, insider Jeffrey S. Farrow sold 14,396 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total transaction of $877,436.20. Following the transaction, the insider directly owned 56,801 shares in the company, valued at $3,462,020.95. This trade represents a 20.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katherine Goodrich sold 2,954 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the completion of the transaction, the director directly owned 2,233 shares of the company’s stock, valued at approximately $138,624.64. This represents a 56.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 39,850 shares of company stock valued at $2,452,821. 9.64% of the stock is currently owned by insiders.

Tarsus Pharmaceuticals Trading Down 0.8%

Shares of NASDAQ TARS opened at $59.04 on Friday. The stock’s 50 day moving average price is $61.17 and its two-hundred day moving average price is $65.34. Tarsus Pharmaceuticals, Inc. has a 52-week low of $38.51 and a 52-week high of $85.25. The stock has a market capitalization of $2.54 billion, a P/E ratio of -51.79 and a beta of 0.50. The company has a quick ratio of 3.71, a current ratio of 3.74 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.24. The company had revenue of $162.05 million during the quarter, compared to analyst estimates of $149.60 million. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%. On average, analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -1.04 earnings per share for the current fiscal year.

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.