Bayesian Capital Management LP Purchases New Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Bayesian Capital Management LP acquired a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 4,114 shares of the company’s stock, valued at approximately $228,000.

Other institutional investors have also modified their holdings of the company. Jennison Associates LLC grew its position in shares of Tarsus Pharmaceuticals by 14.8% in the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock valued at $138,432,000 after buying an additional 321,552 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Tarsus Pharmaceuticals by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company’s stock worth $117,117,000 after purchasing an additional 17,839 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Tarsus Pharmaceuticals by 115.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock worth $70,873,000 after purchasing an additional 685,111 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Tarsus Pharmaceuticals by 0.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company’s stock valued at $63,499,000 after purchasing an additional 5,565 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Tarsus Pharmaceuticals by 36.7% in the 4th quarter. Invesco Ltd. now owns 932,115 shares of the company’s stock valued at $51,611,000 after purchasing an additional 250,018 shares during the period. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analysts Set New Price Targets

TARS has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. The Goldman Sachs Group upped their price target on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday. Guggenheim raised their price objective on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Barclays reduced their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Oppenheimer raised their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $66.33.

Tarsus Pharmaceuticals Trading Down 0.4 %

Shares of Tarsus Pharmaceuticals stock opened at $47.14 on Friday. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of -12.37 and a beta of 0.94. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The company’s 50-day simple moving average is $48.26 and its 200-day simple moving average is $49.02.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The business had revenue of $78.34 million during the quarter, compared to the consensus estimate of $72.50 million. As a group, equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, General Counsel Bryan Wahl sold 3,084 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $154,539.24. Following the completion of the transaction, the general counsel now directly owns 51,712 shares of the company’s stock, valued at $2,591,288.32. This trade represents a 5.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals 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 transaction, the chief executive officer now directly owns 824,106 shares of the company’s stock, 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. Over the last quarter, insiders sold 32,542 shares of company stock valued at $1,581,173. 8.25% of the stock is owned by company insiders.

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.