PDT Partners LLC Purchases Shares of 32,292 Tarsus Pharmaceuticals, Inc. $TARS

PDT Partners LLC acquired a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 32,292 shares of the company’s stock, valued at approximately $2,032,000. PDT Partners LLC owned approximately 0.07% of Tarsus Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Tarsus Pharmaceuticals by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock valued at $196,476,000 after acquiring an additional 127,470 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in Tarsus Pharmaceuticals by 24.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 332,446 shares of the company’s stock valued at $27,221,000 after purchasing an additional 64,941 shares during the last quarter. Bank of America Corp DE raised its holdings in Tarsus Pharmaceuticals by 57.5% during the first quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock worth $83,786,000 after purchasing an additional 436,271 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter worth approximately $1,493,000. Finally, Ishara Investments LP acquired a new position in shares of Tarsus Pharmaceuticals in the 4th quarter valued at $1,965,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Price Performance

Shares of TARS opened at $70.65 on Thursday. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $48.20 and a fifty-two week high of $85.25. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -64.82 and a beta of 0.53. The firm has a 50-day simple moving average of $64.05 and a 200-day simple moving average of $65.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. On average, equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -2.06 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Bobak R. Azamian sold 10,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 847,991 shares of the company’s stock, valued at $52,193,846.05. This trade represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of Tarsus Pharmaceuticals stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total transaction of $877,436.20. Following the completion of the transaction, the insider owned 56,801 shares in the company, valued at approximately $3,462,020.95. This trade represents a 20.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 39,850 shares of company stock worth $2,452,821 over the last three months. 9.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TARS. Oppenheimer boosted their price target on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Guggenheim reduced their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Finally, Wall Street Zen cut Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Tarsus Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $90.50.

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.