The Manufacturers Life Insurance Company Has $2.59 Million Stock Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

The Manufacturers Life Insurance Company boosted its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 42.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,777 shares of the company’s stock after purchasing an additional 13,848 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Tarsus Pharmaceuticals were worth $2,590,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC boosted its position in shares of Tarsus Pharmaceuticals by 115.2% in the fourth 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 during the period. JPMorgan Chase & Co. raised its stake in Tarsus Pharmaceuticals by 2,088.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock valued at $14,477,000 after purchasing an additional 420,057 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its position in Tarsus Pharmaceuticals by 5,636.3% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 404,237 shares of the company’s stock worth $22,383,000 after purchasing an additional 397,190 shares during the last quarter. Jennison Associates LLC grew its position in Tarsus Pharmaceuticals by 14.8% in the 4th 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 during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Tarsus Pharmaceuticals by 36.7% during the 4th quarter. Invesco Ltd. now owns 932,115 shares of the company’s stock worth $51,611,000 after purchasing an additional 250,018 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Performance

Tarsus Pharmaceuticals stock opened at $44.87 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 debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The stock has a fifty day moving average price of $48.26 and a two-hundred day moving average price of $49.14. The firm has a market capitalization of $1.89 billion, a P/E ratio of -11.78 and a beta of 0.94.

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

Wall Street Analyst Weigh In

TARS has been the topic of a number of recent research reports. Guggenheim lifted their target price on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Barclays decreased their price objective on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Jefferies Financial Group upped their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. The Goldman Sachs Group lifted their price target on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Finally, Oppenheimer increased their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $66.33.

Insider Activity

In related news, 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 transaction of $154,539.24. Following the sale, the general counsel now directly owns 51,712 shares in the company, valued at $2,591,288.32. This represents a 5.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dianne C. Whitfield sold 2,137 shares of Tarsus Pharmaceuticals stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total value of $107,085.07. Following the completion of the transaction, the insider now owns 46,355 shares of the company’s stock, valued at approximately $2,322,849.05. The trade was a 4.41 % decrease in their position. The disclosure for this sale can be found here. Over 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 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.