Rock Springs Capital Management LP Sells 35,165 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Rock Springs Capital Management LP lessened its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 13.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 225,179 shares of the company’s stock after selling 35,165 shares during the quarter. Rock Springs Capital Management LP owned 0.52% of Tarsus Pharmaceuticals worth $15,796,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. RTW Investments LP lifted its position in Tarsus Pharmaceuticals by 5.0% in the 4th quarter. RTW Investments LP now owns 3,335,320 shares of the company’s stock valued at $273,096,000 after acquiring an additional 157,884 shares in the last quarter. Deep Track Capital LP increased its holdings in Tarsus Pharmaceuticals by 71.4% during the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock worth $178,290,000 after purchasing an additional 1,250,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in Tarsus Pharmaceuticals by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock worth $196,476,000 after purchasing an additional 127,470 shares in the last quarter. Morgan Stanley increased its holdings in Tarsus Pharmaceuticals by 6.7% during the 4th quarter. Morgan Stanley now owns 2,040,742 shares of the company’s stock worth $167,096,000 after purchasing an additional 128,340 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Tarsus Pharmaceuticals by 34.1% in the 4th quarter. Janus Henderson Group PLC now owns 1,930,325 shares of the company’s stock valued at $158,062,000 after purchasing an additional 491,326 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Buying and Selling

In related news, CEO Bobak R. Azamian sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total transaction of $615,500.00. Following the completion of the transaction, the chief executive officer directly owned 847,991 shares of the company’s stock, valued at approximately $52,193,846.05. This represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katherine Goodrich sold 2,954 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.08, for a total value of $183,384.32. Following the transaction, the director directly owned 2,233 shares in the company, valued at $138,624.64. This trade represents a 56.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 39,850 shares of company stock worth $2,452,821. Insiders own 9.64% of the company’s stock.

Tarsus Pharmaceuticals Trading Up 2.5%

Shares of NASDAQ:TARS opened at $60.12 on Tuesday. The company’s 50-day moving average price is $61.48 and its two-hundred day moving average price is $65.78. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.74 and a quick ratio of 3.71. Tarsus Pharmaceuticals, Inc. has a one year low of $38.51 and a one year high of $85.25. The stock has a market capitalization of $2.59 billion, a PE ratio of -52.74 and a beta of 0.50.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.24. The company had revenue of $162.05 million during the quarter, compared to the consensus estimate of $149.60 million. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. On average, equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -1.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TARS shares. Wall Street Zen cut Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. HC Wainwright reissued a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Oppenheimer initiated coverage on Tarsus Pharmaceuticals in a research report on Friday, April 24th. They set an “outperform” rating and a $98.00 price target for the company. Finally, Guggenheim decreased their price target on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals 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.