Hsbc Holdings PLC Acquires New Position in Tarsus Pharmaceuticals, Inc. $TARS

Hsbc Holdings PLC acquired a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,643 shares of the company’s stock, valued at approximately $686,000.

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

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, Director William J. Phd Link sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.12, for a total transaction of $776,500.00. Following the transaction, the director owned 106,786 shares of the company’s stock, valued at approximately $6,633,546.32. The trade was a 10.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 stock was sold at an average price of $60.95, for a total transaction of $877,436.20. Following the completion of the sale, the insider directly owned 56,801 shares in the company, valued at $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 have sold 39,850 shares of company stock worth $2,452,821 over the last three months. 9.64% of the stock is owned by company insiders.

Tarsus Pharmaceuticals Stock Performance

NASDAQ:TARS opened at $59.54 on Friday. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -52.23 and a beta of 0.50. Tarsus Pharmaceuticals, Inc. has a 1 year low of $38.51 and a 1 year high of $85.25. The stock’s 50 day simple moving average is $61.23 and its two-hundred day simple moving average is $65.38. 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 (NASDAQ:TARS) last posted its earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating 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 the consensus estimate of $149.60 million. As a group, equities analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -1.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Wall Street Zen downgraded Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a report on Friday, April 24th. They set an “outperform” rating and a $98.00 price objective for the company. Guggenheim reduced their price objective on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Two research 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 assigned a Sell rating to the company. According to MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price 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.