Seven Fleet Capital Management LP Acquires 97,267 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Seven Fleet Capital Management LP lifted its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 491.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,067 shares of the company’s stock after buying an additional 97,267 shares during the quarter. Tarsus Pharmaceuticals comprises about 1.3% of Seven Fleet Capital Management LP’s holdings, making the stock its 16th largest position. Seven Fleet Capital Management LP’s holdings in Tarsus Pharmaceuticals were worth $7,910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at about $242,705,000. Jupiter Topco LLC bought a new stake in Tarsus Pharmaceuticals in the second quarter worth approximately $176,834,000. Deep Track Capital LP lifted its stake in Tarsus Pharmaceuticals by 71.4% in the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $178,290,000 after buying an additional 1,250,000 shares during the period. Bank of America Corp DE acquired a new position in Tarsus Pharmaceuticals in the second quarter valued at approximately $75,099,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of Tarsus Pharmaceuticals by 34.1% during the 4th quarter. Janus Henderson Group PLC now owns 1,930,325 shares of the company’s stock worth $158,062,000 after buying an additional 491,326 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Bobak R. Azamian sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the completion of the sale, the chief executive officer owned 847,991 shares in the company, valued at $52,193,846.05. This represents a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Phd Link sold 12,500 shares of the firm’s 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 transaction, the director directly owned 106,786 shares in the company, valued at $6,633,546.32. The trade was a 10.48% decrease in their ownership of the stock. 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 sold 39,850 shares of company stock valued at $2,452,821. 9.64% of the stock is owned by corporate insiders.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS opened at $70.65 on Thursday. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $48.20 and a fifty-two week high of $85.25. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -64.82 and a beta of 0.53. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. The firm’s 50-day simple moving average is $64.05 and its 200 day simple moving average is $65.24.

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

Analyst Ratings Changes

Several analysts have recently weighed in on TARS shares. Mizuho lowered their price objective on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Oppenheimer lifted their price target on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. HC Wainwright reissued a “buy” rating and set a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $90.50.

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.