The Manufacturers Life Insurance Company Buys New Holdings in Tarsus Pharmaceuticals, Inc. $TARS

The Manufacturers Life Insurance Company purchased a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the second quarter, HoldingsChannel reports. The firm purchased 38,198 shares of the company’s stock, valued at approximately $2,404,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its holdings in shares of Tarsus Pharmaceuticals by 139.2% in the first quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 291 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Tarsus Pharmaceuticals by 367.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock worth $50,000 after buying an additional 558 shares during the period. Comerica Bank grew its stake in Tarsus Pharmaceuticals by 470.0% in the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock valued at $70,000 after buying an additional 705 shares during the last quarter. Truvestments Capital LLC raised its holdings in Tarsus Pharmaceuticals by 106.1% in the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock valued at $74,000 after acquiring an additional 468 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in Tarsus Pharmaceuticals by 15.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after acquiring an additional 172 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jeffrey S. Farrow sold 14,396 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total value of $877,436.20. Following the completion of the transaction, the insider owned 56,801 shares of the company’s stock, valued at $3,462,020.95. This represents a 20.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William J. Phd Link sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the sale, the director owned 106,786 shares in the company, valued at $6,633,546.32. This represents a 10.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 39,850 shares of company stock valued at $2,452,821. 9.64% of the stock is owned by corporate insiders.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock opened at $82.76 on Thursday. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.63 billion, a PE ratio of -75.93 and a beta of 0.54. The company has a 50 day moving average of $65.08 and a 200-day moving average of $65.59. Tarsus Pharmaceuticals, Inc. has a 1-year low of $48.20 and a 1-year high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The firm had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. As a group, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TARS shares. Mizuho reduced their price target on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Oppenheimer lifted their price objective on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Guggenheim decreased their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. HC Wainwright reissued a “buy” rating and set a $88.00 price target on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Finally, Wall Street Zen cut Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Tarsus Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $90.50.

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.