Seven Fleet Capital Management LP Has $7.91 Million Holdings in Tarsus Pharmaceuticals, Inc. $TARS

Seven Fleet Capital Management LP boosted its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 491.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,067 shares of the company’s stock after purchasing an additional 97,267 shares during the period. Tarsus Pharmaceuticals comprises 1.3% of Seven Fleet Capital Management LP’s holdings, making the stock its 16th largest position. Seven Fleet Capital Management LP owned approximately 0.27% of Tarsus Pharmaceuticals worth $7,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC grew its position in Tarsus Pharmaceuticals by 139.2% in the first quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 291 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Tarsus Pharmaceuticals by 367.1% in the first quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock valued at $50,000 after buying an additional 558 shares in the last quarter. Comerica Bank raised its position in Tarsus Pharmaceuticals by 470.0% during the fourth quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after acquiring an additional 705 shares in the last quarter. Truvestments Capital LLC lifted its stake in Tarsus Pharmaceuticals by 106.1% in the fourth quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock valued at $74,000 after acquiring an additional 468 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Tarsus Pharmaceuticals by 15.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wall Street Zen downgraded Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Oppenheimer lifted their price objective on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and set a $88.00 target price on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Finally, Guggenheim lowered their price target on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.50.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, insider Jeffrey S. Farrow sold 14,396 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was 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 of the company’s stock, valued at approximately $3,462,020.95. The trade was a 20.22% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katherine Goodrich sold 2,954 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the completion of the transaction, the director directly owned 2,233 shares of the company’s stock, valued at $138,624.64. This trade represents a 56.95% decrease in their position. 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 three months, insiders have sold 39,850 shares of company stock worth $2,452,821. Insiders own 9.64% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

NASDAQ:TARS opened at $70.65 on Thursday. Tarsus Pharmaceuticals, Inc. has a 52 week low of $48.20 and a 52 week high of $85.25. The firm’s 50-day simple moving average is $64.05 and its 200 day simple moving average is $65.24. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -64.82 and a beta of 0.53. 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 posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) 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 company had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. As a group, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -2.06 earnings per share 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.