Walleye Capital LLC Decreases Stake in Tarsus Pharmaceuticals, Inc. $TARS

Walleye Capital LLC decreased its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 62.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 15,184 shares of the company’s stock after selling 25,089 shares during the period. Walleye Capital LLC’s holdings in Tarsus Pharmaceuticals were worth $1,065,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Tarsus Pharmaceuticals by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock valued at $1,137,000 after acquiring an additional 1,217 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Tarsus Pharmaceuticals by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock worth $3,659,000 after purchasing an additional 1,394 shares during the period. Jane Street Group LLC grew its stake in shares of Tarsus Pharmaceuticals by 105.8% in the first quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock valued at $537,000 after buying an additional 190,000 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Tarsus Pharmaceuticals by 402.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock worth $5,696,000 after acquiring an additional 112,637 shares during the period. Finally, Invesco Ltd. boosted its holdings in Tarsus Pharmaceuticals by 12.3% in the 2nd quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock worth $37,614,000 after acquiring an additional 101,978 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on TARS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a research note on Friday, April 24th. They issued an “outperform” rating and a $98.00 target price for the company. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Guggenheim dropped their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $90.50.

Tarsus Pharmaceuticals Stock Up 0.1%

TARS stock opened at $58.66 on Friday. The company has a current ratio of 3.74, a quick ratio of 3.71 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $61.54 and a 200-day simple moving average of $66.01. The company has a market capitalization of $2.52 billion, a P/E ratio of -51.46 and a beta of 0.50. Tarsus Pharmaceuticals, Inc. has a twelve month low of $38.51 and a twelve month high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. The firm had revenue of $162.05 million for the quarter, compared to analysts’ expectations of $149.60 million. On average, equities research analysts predict that Tarsus Pharmaceuticals, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Transactions at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals 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 transaction, the director owned 106,786 shares of the company’s stock, valued at $6,633,546.32. This trade represents a 10.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total value of $615,500.00. Following the transaction, 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 39,850 shares of company stock worth $2,452,821. 9.64% of the stock is currently owned by corporate insiders.

About Tarsus Pharmaceuticals

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.