Hsbc Holdings PLC Makes New Investment in Tarsus Pharmaceuticals, Inc. $TARS

Hsbc Holdings PLC purchased a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 38,090 shares of the company’s stock, valued at approximately $2,429,000.

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

Tarsus Pharmaceuticals Price Performance

TARS opened at $71.76 on Monday. The business has a 50 day moving average of $64.39 and a 200-day moving average of $65.34. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of -65.83 and a beta of 0.53. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21. 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 earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). The company had revenue of $173.91 million for the quarter, compared to the consensus estimate of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. As a group, sell-side analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -2.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TARS. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Oppenheimer lifted their target price on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Guggenheim cut their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. HC Wainwright restated a “buy” rating and set a $88.00 price target on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Finally, Mizuho lowered their price target on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Two investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.50.

Insider Activity at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, insider Jeffrey S. Farrow sold 14,396 shares of the firm’s stock in a transaction 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the transaction, the director owned 2,233 shares in the company, valued at approximately $138,624.64. The trade was a 56.95% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 39,850 shares of company stock valued at $2,452,821. Company insiders own 9.64% of the company’s stock.

Tarsus Pharmaceuticals Company 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.