Pictet Asset Management Holding SA Buys New Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Pictet Asset Management Holding SA purchased a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,130 shares of the company’s stock, valued at approximately $284,000.

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

Insiders Place Their Bets

In other news, General Counsel Bryan Wahl sold 3,341 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $154,654.89. Following the sale, the general counsel now owns 58,057 shares of the company’s stock, valued at $2,687,458.53. The trade was a 5.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dianne C. Whitfield sold 2,315 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $107,161.35. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,542 shares of company stock worth $1,581,173. Corporate insiders own 8.25% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ:TARS opened at $44.12 on Friday. Tarsus Pharmaceuticals, Inc. has a 52 week low of $20.08 and a 52 week high of $57.28. The company has a 50-day moving average price of $48.33 and a 200 day moving average price of $47.12. The company has a market cap of $1.69 billion, a P/E ratio of -11.58 and a beta of 0.94. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $58.80 million. Research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TARS shares. Barclays decreased their price objective on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Jefferies Financial Group lifted their price objective on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. HC Wainwright reiterated a “buy” rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and set a $78.00 price objective (up from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. Finally, Oppenheimer increased their price objective on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 22nd. 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. Based on data from MarketBeat.com, Tarsus Pharmaceuticals has an average rating of “Buy” and a consensus target price of $63.67.

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.