PDT Partners LLC Acquires New Position in Tarsus Pharmaceuticals, Inc. $TARS

PDT Partners LLC acquired a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 32,292 shares of the company’s stock, valued at approximately $2,032,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TARS. BlackRock Inc. acquired a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at approximately $242,705,000. RTW Investments LP grew its holdings in shares of 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 acquiring an additional 157,884 shares during the period. Deep Track Capital LP raised its holdings in Tarsus Pharmaceuticals by 71.4% during the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock worth $178,290,000 after purchasing an additional 1,250,000 shares during the last quarter. Vanguard Group Inc. boosted its position in Tarsus Pharmaceuticals by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock worth $196,476,000 after purchasing an additional 127,470 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in Tarsus Pharmaceuticals by 16.1% during the first quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock worth $157,223,000 after purchasing an additional 310,638 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Stock Down 1.1%

TARS opened at $70.65 on Thursday. The firm has a market cap of $3.10 billion, a P/E ratio of -64.82 and a beta of 0.53. The business’s fifty day simple moving average is $64.05 and its 200 day simple moving average is $65.24. Tarsus Pharmaceuticals, Inc. has a 52 week low of $48.20 and a 52 week high of $85.25. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The firm had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. As a group, equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current fiscal year.

Insider Activity

In other Tarsus Pharmaceuticals news, Director William J. Phd Link sold 12,500 shares of the stock in a transaction 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 $6,633,546.32. This represents a 10.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total value of $615,500.00. Following the sale, the chief executive officer owned 847,991 shares in the company, valued at $52,193,846.05. This trade represents a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 39,850 shares of company stock worth $2,452,821 in the last three months. 9.64% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TARS. HC Wainwright restated a “buy” rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Oppenheimer raised their target price on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Mizuho cut their target price on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Guggenheim lowered their price target 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. 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 company’s stock. Based on data from MarketBeat, Tarsus Pharmaceuticals presently 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.