Tarsus Pharmaceuticals, Inc. $TARS Stock Holdings Lifted by First Trust Advisors LP

First Trust Advisors LP grew its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 10.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,911 shares of the company’s stock after purchasing an additional 11,141 shares during the period. First Trust Advisors LP’s holdings in Tarsus Pharmaceuticals were worth $8,622,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TARS shares. HC Wainwright reiterated a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Mizuho dropped their price target on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Guggenheim reduced their price objective 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. Finally, Oppenheimer started coverage on shares of Tarsus Pharmaceuticals in a report on Friday, April 24th. They issued an “outperform” rating and a $98.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.17.

Insider Activity

In related news, Director William J. Phd Link sold 12,500 shares of the company’s stock in a transaction on Monday, June 15th. The shares were 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 of the company’s stock, valued at approximately $6,633,546.32. This represents a 10.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 approximately $3,462,020.95. This represents a 20.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 39,850 shares of company stock valued at $2,452,821 over the last three months. Corporate insiders own 9.64% of the company’s stock.

Tarsus Pharmaceuticals Stock Down 0.8%

TARS opened at $59.04 on Friday. The business has a 50 day moving average price of $61.17 and a 200 day moving average price of $65.34. Tarsus Pharmaceuticals, Inc. has a twelve month low of $38.51 and a twelve month high of $85.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74. The firm has a market cap of $2.54 billion, a P/E ratio of -51.79 and a beta of 0.50.

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

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.