Wasatch Advisors LP Makes New Investment in Tarsus Pharmaceuticals, Inc. $TARS

Wasatch Advisors LP purchased a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 368,568 shares of the company’s stock, valued at approximately $23,198,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC increased its position in Tarsus Pharmaceuticals by 139.2% during the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock worth $35,000 after purchasing an additional 291 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Tarsus Pharmaceuticals by 367.1% in the 1st 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 lifted its stake in shares of 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 buying an additional 705 shares during the period. Truvestments Capital LLC boosted its holdings in shares of Tarsus Pharmaceuticals by 106.1% during the fourth quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock worth $74,000 after purchasing an additional 468 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Tarsus Pharmaceuticals by 15.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after buying an additional 172 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Trading Up 0.8%

NASDAQ TARS opened at $70.01 on Thursday. The stock has a market cap of $3.07 billion, a P/E ratio of -64.23 and a beta of 0.53. The company’s fifty day simple moving average is $62.04 and its 200-day simple moving average is $64.85. 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 52 week low of $48.20 and a 52 week high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released 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 net margin of 7.67% and a negative return on equity of 13.53%. The firm had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. Equities research analysts predict that Tarsus Pharmaceuticals, Inc. will post -1.7 EPS for the current fiscal year.

Insider Activity

In other news, Director William J. Phd Link sold 12,500 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the sale, the director directly owned 106,786 shares in the company, valued at $6,633,546.32. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of Tarsus Pharmaceuticals stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total value of $615,500.00. Following the sale, the chief executive officer directly owned 847,991 shares in the company, valued at approximately $52,193,846.05. The trade was a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Corporate insiders own 9.64% of the company’s stock.

Analyst Ratings Changes

TARS has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Oppenheimer boosted their price objective on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday. Guggenheim decreased their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Finally, Mizuho lowered their target price 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. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.50.

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.