RTW Investments LP Has $179.21 Million Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

RTW Investments LP trimmed its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,236,549 shares of the company’s stock after selling 175,937 shares during the period. Tarsus Pharmaceuticals accounts for 2.7% of RTW Investments LP’s holdings, making the stock its 14th largest position. RTW Investments LP owned 8.47% of Tarsus Pharmaceuticals worth $179,208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. ProShare Advisors LLC raised its position in Tarsus Pharmaceuticals by 32.3% during the fourth quarter. ProShare Advisors LLC now owns 12,170 shares of the company’s stock valued at $674,000 after purchasing an additional 2,970 shares in the last quarter. Paradigm Biocapital Advisors LP raised its position in Tarsus Pharmaceuticals by 3.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company’s stock valued at $140,191,000 after purchasing an additional 91,451 shares in the last quarter. Numerai GP LLC acquired a new position in Tarsus Pharmaceuticals during the fourth quarter valued at approximately $1,034,000. OMERS ADMINISTRATION Corp acquired a new position in Tarsus Pharmaceuticals during the fourth quarter valued at approximately $410,000. Finally, Millennium Management LLC raised its position in Tarsus Pharmaceuticals by 189.4% during the fourth quarter. Millennium Management LLC now owns 644,010 shares of the company’s stock valued at $35,659,000 after purchasing an additional 421,495 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS opened at $43.50 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $57.28. The stock has a market cap of $1.83 billion, a PE ratio of -11.42 and a beta of 0.94. The firm’s fifty day moving average price is $48.12 and its two-hundred day moving average price is $49.17.

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

Analysts Set New Price Targets

TARS has been the subject of several research analyst reports. Barclays lowered their price objective on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Guggenheim boosted their target price on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Jefferies Financial Group boosted their target price on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Oppenheimer boosted their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tarsus Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $66.33.

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, General Counsel Bryan Wahl sold 3,084 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $154,539.24. Following the sale, the general counsel now owns 51,712 shares of the company’s stock, valued at approximately $2,591,288.32. This represents a 5.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dianne C. Whitfield sold 2,137 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $107,085.07. Following the sale, the insider now directly owns 46,355 shares in the company, valued at $2,322,849.05. This trade represents a 4.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,542 shares of company stock valued at $1,581,173 over the last 90 days. 8.25% of the stock is owned by 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.