Geode Capital Management LLC Raises Position in Tarsus Pharmaceuticals, Inc. $TARS

Geode Capital Management LLC grew its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 8.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 934,420 shares of the company’s stock after buying an additional 68,986 shares during the quarter. Geode Capital Management LLC owned approximately 2.22% of Tarsus Pharmaceuticals worth $37,859,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TARS. Allianz Asset Management GmbH purchased a new position in shares of Tarsus Pharmaceuticals in the second quarter valued at about $227,000. Strs Ohio bought a new position in Tarsus Pharmaceuticals during the first quarter valued at $288,000. Adage Capital Partners GP L.L.C. purchased a new position in Tarsus Pharmaceuticals in the first quarter worth about $26,199,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at approximately $416,000. Finally, Lisanti Capital Growth LLC lifted its holdings in shares of Tarsus Pharmaceuticals by 7.6% in the 2nd quarter. Lisanti Capital Growth LLC now owns 75,525 shares of the company’s stock worth $3,060,000 after acquiring an additional 5,345 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

Tarsus Pharmaceuticals Stock Performance

NASDAQ:TARS opened at $80.50 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.25 and a current ratio of 4.29. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $38.51 and a fifty-two week high of $83.47. The stock has a market capitalization of $3.42 billion, a PE ratio of -39.85 and a beta of 0.82. The company has a fifty day moving average of $68.45 and a two-hundred day moving average of $53.77.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Tuesday, November 4th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 26.29% and a negative net margin of 22.17%.The business had revenue of $118.70 million during the quarter, compared to analysts’ expectations of $114.22 million. As a group, research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TARS. HC Wainwright increased their target price on Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Mizuho started coverage on Tarsus Pharmaceuticals in a report on Thursday, November 20th. They issued an “outperform” rating and a $100.00 price target on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $51.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Thursday, November 6th. Guggenheim increased their price target on Tarsus Pharmaceuticals from $84.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Wednesday, October 8th. Six investment analysts have rated the stock with 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $74.14.

Insider Buying and Selling

In related news, Director William J. Phd Link sold 27,116 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $57.00, for a total value of $1,545,612.00. Following the completion of the sale, the director owned 143,332 shares of the company’s stock, valued at approximately $8,169,924. This trade represents a 15.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $55.37, for a total value of $332,220.00. Following the transaction, the chief executive officer owned 812,106 shares in the company, valued at approximately $44,966,309.22. This represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. 8.97% of the stock is owned by corporate insiders.

Tarsus Pharmaceuticals Profile

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.