Walleye Capital LLC Makes New Investment in Tarsus Pharmaceuticals, Inc. $TARS

Walleye Capital LLC bought a new stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 11,906 shares of the company’s stock, valued at approximately $749,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TARS. Vanguard Group Inc. raised its stake in Tarsus Pharmaceuticals by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock worth $196,476,000 after acquiring an additional 127,470 shares during the period. TimesSquare Capital Management LLC boosted its stake in Tarsus Pharmaceuticals by 24.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 332,446 shares of the company’s stock valued at $27,221,000 after acquiring an additional 64,941 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Tarsus Pharmaceuticals by 19.9% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 109,857 shares of the company’s stock valued at $8,995,000 after acquiring an additional 18,267 shares during the period. D.A. Davidson & CO. bought a new position in shares of Tarsus Pharmaceuticals during the fourth quarter valued at approximately $1,493,000. Finally, Bank of America Corp DE grew its holdings in shares of Tarsus Pharmaceuticals by 57.5% during the first quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock valued at $83,786,000 after purchasing an additional 436,271 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Stock Performance

TARS opened at $69.20 on Friday. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $62.41 and its 200-day moving average is $64.89. The stock has a market cap of $3.04 billion, a PE ratio of -63.49 and a beta of 0.53. Tarsus Pharmaceuticals, Inc. has a twelve month low of $48.20 and a twelve month high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) 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 business had revenue of $173.91 million during the quarter, compared to the consensus estimate of $169.65 million. On average, analysts predict that Tarsus Pharmaceuticals, Inc. will post -2.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TARS shares. Mizuho cut their price target on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Guggenheim lowered their price objective on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Two investment 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. According to MarketBeat, Tarsus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $90.50.

Insiders Place Their Bets

In related news, 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 completion of the sale, the insider owned 56,801 shares of the company’s stock, valued at $3,462,020.95. This represents a 20.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William J. Phd Link sold 12,500 shares of the stock in a transaction dated 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 transaction, the director owned 106,786 shares of the company’s stock, valued at $6,633,546.32. This represents a 10.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 39,850 shares of company stock worth $2,452,821. Insiders own 9.64% of the company’s stock.

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.