Squarepoint Ops LLC Buys 54,791 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Squarepoint Ops LLC grew its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 22.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 295,824 shares of the company’s stock after purchasing an additional 54,791 shares during the quarter. Squarepoint Ops LLC owned about 0.67% of Tarsus Pharmaceuticals worth $18,619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter worth approximately $242,705,000. Jupiter Topco LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter worth approximately $176,834,000. California State Teachers Retirement System increased its stake in shares of Tarsus Pharmaceuticals by 5,971.9% in the 2nd quarter. California State Teachers Retirement System now owns 2,288,813 shares of the company’s stock valued at $144,058,000 after acquiring an additional 2,251,118 shares in the last quarter. Deep Track Capital LP lifted its position in shares of Tarsus Pharmaceuticals by 71.4% during the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $178,290,000 after acquiring an additional 1,250,000 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $75,099,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS opened at $82.77 on Thursday. The company has a market capitalization of $3.63 billion, a PE ratio of -75.94 and a beta of 0.54. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average price is $67.53 and its 200-day moving average price is $66.45. Tarsus Pharmaceuticals, Inc. has a twelve month low of $48.20 and a twelve month high of $91.53.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%.The company had revenue of $173.91 million during the quarter, compared to analysts’ expectations of $169.65 million. On average, equities analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -2.4 EPS for the current year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, Director Katherine Goodrich sold 2,954 shares of the business’s 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 sale, the director directly owned 2,233 shares in the company, valued at approximately $138,624.64. The trade was a 56.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of the company’s stock in a transaction dated 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 owned 56,801 shares in the company, valued at approximately $3,462,020.95. This represents a 20.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 75,381 shares of company stock worth $5,477,298. Company insiders own 9.64% of the company’s stock.

Analysts Set New Price Targets

TARS has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Oppenheimer upped their price target on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Jefferies Financial Group raised their price objective on Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday. Guggenheim decreased their price objective on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.57.

About Tarsus Pharmaceuticals

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.