Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Position Lessened by Two Sigma Advisers LP

Two Sigma Advisers LP lowered its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 79.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,500 shares of the company’s stock after selling 202,900 shares during the quarter. Two Sigma Advisers LP owned approximately 0.14% of Tarsus Pharmaceuticals worth $2,962,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Toronto Dominion Bank bought a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter valued at approximately $105,714,000. Lord Abbett & CO. LLC raised its stake in Tarsus Pharmaceuticals by 115.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock valued at $70,873,000 after acquiring an additional 685,111 shares in the last quarter. Millennium Management LLC boosted its position in Tarsus Pharmaceuticals by 189.4% during the 4th quarter. Millennium Management LLC now owns 644,010 shares of the company’s stock worth $35,659,000 after acquiring an additional 421,495 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its position in Tarsus Pharmaceuticals by 5,636.3% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 404,237 shares of the company’s stock worth $22,383,000 after acquiring an additional 397,190 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Tarsus Pharmaceuticals by 14.8% in the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after purchasing an additional 321,552 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Dianne C. Whitfield sold 2,137 shares of the business’s stock in a transaction that occurred 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 owns 46,355 shares in the company, valued at $2,322,849.05. The trade was a 4.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 824,106 shares of the company’s stock, valued at $41,205,300. This represents a 0.72% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,542 shares of company stock worth $1,581,173. Insiders own 8.25% of the company’s stock.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS opened at $41.88 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The firm’s 50 day moving average is $47.43 and its 200-day moving average is $49.04. Tarsus Pharmaceuticals, Inc. has a 12-month low of $20.08 and a 12-month high of $57.28. The stock has a market capitalization of $1.76 billion, a P/E ratio of -10.99 and a beta of 0.94.

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

Analyst Ratings Changes

TARS has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Guggenheim boosted their price target on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. HC Wainwright initiated coverage on shares of Tarsus Pharmaceuticals in a report on Tuesday. They issued a “buy” rating and a $72.00 price objective for the company. Jefferies Financial Group raised 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. Finally, Barclays cut their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tarsus Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $66.17.

Tarsus Pharmaceuticals 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.