Wellington Management Group LLP Acquires 24,117 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Wellington Management Group LLP boosted its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 149.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,202 shares of the company’s stock after purchasing an additional 24,117 shares during the quarter. Wellington Management Group LLP’s holdings in Tarsus Pharmaceuticals were worth $2,530,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TARS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Tarsus Pharmaceuticals by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock worth $1,137,000 after buying an additional 1,217 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Tarsus Pharmaceuticals by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock worth $3,659,000 after purchasing an additional 1,394 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of 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 during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of 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 during the last quarter. Finally, Invesco Ltd. grew its position in shares of Tarsus Pharmaceuticals by 12.3% during the second quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock valued at $37,614,000 after purchasing an additional 101,978 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TARS shares. Oppenheimer lifted their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Jefferies Financial Group lifted their price objective on Tarsus Pharmaceuticals from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Mizuho decreased their price objective on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $92.57.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ:TARS opened at $81.12 on Friday. The firm has a fifty day simple moving average of $67.84 and a two-hundred day simple moving average of $66.55. Tarsus Pharmaceuticals, Inc. has a 52 week low of $48.20 and a 52 week high of $91.53. 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 has a market capitalization of $3.56 billion, a P/E ratio of -74.42 and a beta of 0.54.

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 the consensus estimate of ($0.19) by ($0.24). The business had revenue of $173.91 million for the quarter, compared to analysts’ expectations of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. On average, analysts expect that Tarsus Pharmaceuticals, Inc. will post -2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, insider Jeffrey S. Farrow sold 14,396 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 56,801 shares of the company’s stock, valued at $3,462,020.95. The trade was a 20.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Bobak Azamian sold 10,000 shares of the business’s stock in a transaction that occurred on 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 $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. Insiders have sold a total of 75,381 shares of company stock valued at $5,477,298 in the last quarter. 9.64% of the stock is currently owned by insiders.

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.