Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Down 4.1% After Insider Selling

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) was down 4.1% during mid-day trading on Thursday following insider selling activity. The company traded as low as $52.15 and last traded at $52.09. Approximately 259,792 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 656,476 shares. The stock had previously closed at $54.33.

Specifically, Director William J. Phd Link sold 27,116 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the completion of the transaction, the director owned 143,332 shares in the company, valued at $8,169,924. This trade represents a 15.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TARS shares. HC Wainwright upgraded shares of Tarsus Pharmaceuticals to a “buy” rating and set a $72.00 price target for the company in a research note on Tuesday, May 27th. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a report on Monday, June 2nd. They set an “outperform” rating and a $75.00 price objective for the company. Zacks Research raised shares of Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Tarsus Pharmaceuticals Trading Down 4.5%

The company has a market cap of $2.19 billion, a price-to-earnings ratio of -22.26 and a beta of 0.81. The company’s fifty day moving average price is $48.46 and its two-hundred day moving average price is $46.46. The company has a quick ratio of 5.21, a current ratio of 5.26 and a debt-to-equity ratio of 0.22.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.15). The company had revenue of $102.66 million during the quarter, compared to analyst estimates of $95.81 million. Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. Research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Institutional Trading of Tarsus Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of TARS. GF Fund Management CO. LTD. acquired a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter valued at approximately $44,000. Amalgamated Bank increased its holdings in shares of Tarsus Pharmaceuticals by 30.1% in the first quarter. Amalgamated Bank now owns 1,274 shares of the company’s stock valued at $65,000 after purchasing an additional 295 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Tarsus Pharmaceuticals by 26.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company’s stock valued at $66,000 after purchasing an additional 339 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Tarsus Pharmaceuticals by 779.1% in the second quarter. Osaic Holdings Inc. now owns 2,778 shares of the company’s stock valued at $113,000 after purchasing an additional 2,462 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Tarsus Pharmaceuticals by 220.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company’s stock valued at $164,000 after purchasing an additional 2,782 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

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.