Cormorant Asset Management LP Sells 100,000 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Cormorant Asset Management LP cut its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 20.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 400,000 shares of the company’s stock after selling 100,000 shares during the quarter. Tarsus Pharmaceuticals accounts for 1.5% of Cormorant Asset Management LP’s holdings, making the stock its 19th biggest position. Cormorant Asset Management LP owned 0.95% of Tarsus Pharmaceuticals worth $20,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new position in shares of Tarsus Pharmaceuticals in the 4th quarter valued at approximately $44,000. Amalgamated Bank grew its position in shares of Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company’s stock valued at $65,000 after purchasing an additional 295 shares during the period. Quarry LP grew its position in shares of Tarsus Pharmaceuticals by 20.0% in the 1st quarter. Quarry LP now owns 3,599 shares of the company’s stock valued at $185,000 after purchasing an additional 599 shares during the period. AlphaQuest LLC acquired a new position in shares of Tarsus Pharmaceuticals in the 1st quarter valued at approximately $189,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Tarsus Pharmaceuticals in the 4th quarter valued at approximately $228,000. 90.01% of the stock is owned by institutional investors.

Insider Activity at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer owned 818,106 shares of the company’s stock, valued at approximately $40,905,300. This represents a 0.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 8.97% of the company’s stock.

Tarsus Pharmaceuticals Trading Down 1.5%

NASDAQ:TARS opened at $57.72 on Thursday. Tarsus Pharmaceuticals, Inc. has a twelve month low of $25.82 and a twelve month high of $59.76. The company has a quick ratio of 5.21, a current ratio of 5.26 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $46.62 and a two-hundred day moving average price of $46.17. The company has a market cap of $2.44 billion, a P/E ratio of -24.77 and a beta of 0.81.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released 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 firm had revenue of $102.66 million for the quarter, compared to analyst estimates of $95.81 million. Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%. As a group, analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Analyst Ratings Changes

TARS has been the subject of several research analyst reports. HC Wainwright upgraded Tarsus Pharmaceuticals to a “buy” rating and set a $72.00 price objective for the company in a research report on Tuesday, May 27th. Oppenheimer started coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an “outperform” rating and a $75.00 price target for the company. Finally, Wall Street Zen downgraded Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $66.67.

About Tarsus Pharmaceuticals

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.