Paradigm Biocapital Advisors LP Has $140.19 Million Stock Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Paradigm Biocapital Advisors LP lifted its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,531,896 shares of the company’s stock after acquiring an additional 91,451 shares during the quarter. Tarsus Pharmaceuticals comprises about 4.9% of Paradigm Biocapital Advisors LP’s investment portfolio, making the stock its 6th biggest holding. Paradigm Biocapital Advisors LP owned 6.62% of Tarsus Pharmaceuticals worth $140,191,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Jennison Associates LLC lifted its holdings in Tarsus Pharmaceuticals by 14.8% in the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock valued at $138,432,000 after acquiring an additional 321,552 shares during the last quarter. Barclays PLC lifted its stake in Tarsus Pharmaceuticals by 345.9% during the third quarter. Barclays PLC now owns 98,663 shares of the company’s stock valued at $3,246,000 after purchasing an additional 76,538 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Tarsus Pharmaceuticals by 0.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company’s stock worth $63,499,000 after buying an additional 5,565 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Tarsus Pharmaceuticals in the fourth quarter worth approximately $1,107,000. Finally, Bleakley Financial Group LLC bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter valued at $323,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, 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 transaction, the insider now directly owns 50,751 shares of the company’s stock, valued at approximately $2,349,263.79. This trade represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Bryan Wahl sold 3,341 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 32,542 shares of company stock valued at $1,581,173. 8.25% of the stock is currently owned by corporate insiders.

Tarsus Pharmaceuticals Stock Down 6.2%

Shares of TARS stock opened at $41.46 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 stock has a fifty day moving average price of $48.21 and a 200 day moving average price of $49.19. Tarsus Pharmaceuticals, Inc. has a one year low of $20.08 and a one year high of $57.28. The stock has a market cap of $1.74 billion, a P/E ratio of -10.88 and a beta of 0.94.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. The Goldman Sachs Group lifted their target price on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Barclays cut their price target on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Guggenheim raised their price objective on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, Oppenheimer boosted their target price 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 research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $66.33.

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.