Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 7.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,289 shares of the company’s stock after selling 1,380 shares during the quarter. Corebridge Financial Inc.’s holdings in Tarsus Pharmaceuticals were worth $1,013,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new position in shares of Tarsus Pharmaceuticals during the 4th quarter valued at about $25,000. Bank of New York Mellon Corp increased its position in Tarsus Pharmaceuticals by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 101,928 shares of the company’s stock worth $5,644,000 after purchasing an additional 498 shares during the last quarter. Swiss National Bank raised its stake in Tarsus Pharmaceuticals by 1.2% during the fourth quarter. Swiss National Bank now owns 52,333 shares of the company’s stock worth $2,898,000 after purchasing an additional 600 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Tarsus Pharmaceuticals by 10.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,106 shares of the company’s stock valued at $449,000 after purchasing an additional 789 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter valued at $53,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Price Performance

TARS opened at $47.02 on Friday. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $49.18 and a 200 day simple moving average of $46.61. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -12.34 and a beta of 1.05. Tarsus Pharmaceuticals, Inc. has a twelve month low of $20.08 and a twelve month high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The business had revenue of $66.41 million for the quarter, compared to analysts’ expectations of $58.80 million. Equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $73.00 target price on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Jefferies Financial Group lifted their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Guggenheim reissued a “buy” rating and set a $78.00 target price (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. Oppenheimer raised their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Finally, Barclays dropped 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. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $63.67.

Insider Activity

In related news, insider Dianne C. Whitfield sold 2,315 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total value of $107,161.35. Following the completion of the sale, the insider now directly owns 50,751 shares of the company’s stock, valued at $2,349,263.79. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Bryan Wahl sold 3,084 shares of the 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 transaction, the general counsel now directly owns 51,712 shares in the company, valued at approximately $2,591,288.32. This represents a 5.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,542 shares of company stock worth $1,581,173. 8.25% of the stock is currently owned by insiders.

Tarsus Pharmaceuticals Company 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.