Healthcare of Ontario Pension Plan Trust Fund Sells 53,030 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 32.8% in the first quarter, Holdings Channel reports. The institutional investor owned 108,800 shares of the company’s stock after selling 53,030 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Tarsus Pharmaceuticals were worth $7,632,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Deep Track Capital LP increased its stake in Tarsus Pharmaceuticals by 71.4% during the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock worth $178,290,000 after acquiring an additional 1,250,000 shares during the period. Janus Henderson Group PLC lifted its position 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 valued at $158,062,000 after acquiring an additional 491,326 shares during the period. M&T Bank Corp lifted its position in shares of Tarsus Pharmaceuticals by 11,730.0% during the 4th quarter. M&T Bank Corp now owns 437,119 shares of the company’s stock valued at $35,791,000 after acquiring an additional 433,424 shares during the period. MPM Bioimpact LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter worth $13,834,000. Finally, Franklin Resources Inc. grew its holdings in shares of Tarsus Pharmaceuticals by 1,419.3% during the 4th quarter. Franklin Resources Inc. now owns 337,016 shares of the company’s stock worth $27,595,000 after purchasing an additional 314,833 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Activity at Tarsus Pharmaceuticals

In related news, Director William J. Phd Link sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the transaction, the director directly owned 106,786 shares in the company, valued at $6,633,546.32. This represents a 10.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katherine Goodrich sold 2,954 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the transaction, the director owned 2,233 shares of the company’s stock, valued at approximately $138,624.64. This represents a 56.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,850 shares of company stock worth $2,452,821 over the last three months. 9.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TARS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research note on Friday, April 24th. They set an “outperform” rating and a $98.00 price objective on the stock. 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. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Guggenheim cut their price target on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.50.

Tarsus Pharmaceuticals Price Performance

Tarsus Pharmaceuticals stock opened at $58.52 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74. Tarsus Pharmaceuticals, Inc. has a 52 week low of $38.51 and a 52 week high of $85.25. The stock has a market capitalization of $2.52 billion, a P/E ratio of -51.33 and a beta of 0.50. The stock has a fifty day moving average of $61.31 and a 200-day moving average of $65.51.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $162.05 million for the quarter, compared to analyst estimates of $149.60 million. On average, sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -1.04 earnings per share for the current fiscal year.

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.