Odyssean LLC Raises Stock Position in Tarsus Pharmaceuticals, Inc. $TARS

Odyssean LLC lifted its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 201.3% during the second quarter, HoldingsChannel.com reports. The fund owned 41,394 shares of the company’s stock after buying an additional 27,657 shares during the quarter. Odyssean LLC’s holdings in Tarsus Pharmaceuticals were worth $2,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC grew its stake in Tarsus Pharmaceuticals by 139.2% in the first 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. increased its holdings in Tarsus Pharmaceuticals by 367.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock worth $50,000 after purchasing an additional 558 shares during the period. Comerica Bank increased its holdings in Tarsus Pharmaceuticals by 470.0% during the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after purchasing an additional 705 shares during the period. Truvestments Capital LLC raised its position in Tarsus Pharmaceuticals by 106.1% during the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock valued at $74,000 after purchasing an additional 468 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Tarsus Pharmaceuticals in the 2nd quarter worth $103,000. Institutional investors own 90.01% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Bobak R. Azamian sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total transaction of $615,500.00. Following the transaction, the chief executive officer directly owned 847,991 shares of the company’s stock, valued at $52,193,846.05. This represents a 1.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of the 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 approximately $3,462,020.95. This trade represents a 20.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 39,850 shares of company stock worth $2,452,821 over the last quarter. Company insiders own 9.64% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

Shares of TARS opened at $71.45 on Wednesday. The company has a 50 day moving average of $63.88 and a two-hundred day moving average of $65.18. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals, Inc. has a twelve month low of $48.20 and a twelve month high of $85.25. The company has a market cap of $3.14 billion, a price-to-earnings ratio of -65.55 and a beta of 0.53.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $169.65 million. As a group, analysts predict that Tarsus Pharmaceuticals, Inc. will post -2.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Guggenheim reduced their price target on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Oppenheimer lifted their price objective on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. 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 data from MarketBeat, Tarsus Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $90.50.

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.