Freestone Grove Partners LP Acquires New Position in Tarsus Pharmaceuticals, Inc. $TARS

Freestone Grove Partners LP acquired a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the second quarter, HoldingsChannel reports. The fund acquired 68,389 shares of the company’s stock, valued at approximately $4,304,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at $242,705,000. Jupiter Topco LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the second quarter worth $176,834,000. Deep Track Capital LP grew its stake in shares of Tarsus Pharmaceuticals by 71.4% during the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock worth $178,290,000 after purchasing an additional 1,250,000 shares during the period. Janus Henderson Group PLC increased its holdings in Tarsus Pharmaceuticals by 34.1% in the fourth quarter. Janus Henderson Group PLC now owns 1,930,325 shares of the company’s stock valued at $158,062,000 after purchasing an additional 491,326 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Tarsus Pharmaceuticals by 57.5% in the first quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock valued at $83,786,000 after purchasing an additional 436,271 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Oppenheimer upped their price target on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. Wall Street Zen cut Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Mizuho reduced their price objective on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Finally, Guggenheim decreased their price objective on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.50.

Insiders Place Their Bets

In related news, Director William J. Phd Link sold 12,500 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the sale, the director directly owned 106,786 shares of the company’s stock, valued at approximately $6,633,546.32. This represents a 10.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total transaction of $615,500.00. Following the sale, the chief executive officer owned 847,991 shares in the company, valued at $52,193,846.05. This trade represents a 1.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 39,850 shares of company stock valued at $2,452,821 over the last 90 days. 9.64% of the stock is owned by company insiders.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock opened at $71.76 on Friday. The company has a market capitalization of $3.15 billion, a PE ratio of -65.83 and a beta of 0.53. Tarsus Pharmaceuticals, Inc. has a 12 month low of $48.20 and a 12 month high of $85.25. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $64.39 and its 200 day simple moving average is $65.34.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. The business had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. On average, research analysts predict that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current year.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.