110,889 Shares in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Purchased by Rock Springs Capital Management LP

Rock Springs Capital Management LP acquired a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 110,889 shares of the company’s stock, valued at approximately $6,140,000.

Other hedge funds have also recently bought and sold shares of the company. Crowley Wealth Management Inc. bought a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter worth approximately $25,000. R Squared Ltd acquired a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter valued at $53,000. FMR LLC increased its stake in shares of Tarsus Pharmaceuticals by 236.6% in the 3rd quarter. FMR LLC now owns 5,032 shares of the company’s stock valued at $166,000 after purchasing an additional 3,537 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth $207,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of Tarsus Pharmaceuticals by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company’s stock worth $213,000 after buying an additional 244 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TARS has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Guggenheim reaffirmed a “buy” rating and set a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Barclays dropped their price objective on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Oppenheimer boosted their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $73.00 price target on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tarsus Pharmaceuticals has an average rating of “Buy” and an average target price of $63.67.

Insiders Place Their Bets

In related news, insider Dianne C. Whitfield sold 2,315 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $107,161.35. Following the transaction, the insider now directly owns 50,751 shares of the company’s stock, valued at approximately $2,349,263.79. This represents a 4.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now owns 824,106 shares in the company, valued at approximately $41,205,300. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,542 shares of company stock worth $1,581,173. Corporate insiders own 8.25% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

TARS stock opened at $49.25 on Monday. The company has a market capitalization of $1.89 billion, a P/E ratio of -12.93 and a beta of 0.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The company has a fifty day moving average price of $47.76 and a 200-day moving average price of $47.90.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.08. The company had revenue of $66.41 million during the quarter, compared to analysts’ expectations of $58.80 million. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. As a group, equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.