Federated Hermes Inc. Buys New Shares in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Federated Hermes Inc. purchased a new stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 77,714 shares of the company's stock, valued at approximately $4,303,000. Federated Hermes Inc. owned 0.20% of Tarsus Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Jennison Associates LLC increased its position in shares of Tarsus Pharmaceuticals by 14.8% during the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company's stock valued at $138,432,000 after buying an additional 321,552 shares during the period. Vanguard Group Inc. raised its position in shares of Tarsus Pharmaceuticals by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company's stock worth $117,117,000 after acquiring an additional 17,839 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Tarsus Pharmaceuticals by 0.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company's stock valued at $63,499,000 after purchasing an additional 5,565 shares during the period. Geode Capital Management LLC boosted its position in shares of Tarsus Pharmaceuticals by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 838,804 shares of the company's stock valued at $46,456,000 after purchasing an additional 3,014 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in Tarsus Pharmaceuticals by 28.4% in the third quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company's stock worth $19,565,000 after purchasing an additional 131,636 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TARS shares. HC Wainwright restated a "buy" rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Barclays dropped their price objective on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $78.00 target price (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. Oppenheimer boosted their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 22nd. Finally, Jefferies Financial Group raised their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $63.67.

Insider Activity

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the chief executive officer now directly owns 824,106 shares in the company, valued at approximately $41,205,300. This trade represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dianne C. Whitfield sold 2,137 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $107,085.07. Following the completion of the sale, the insider now owns 46,355 shares of the company's stock, valued at $2,322,849.05. This trade represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,542 shares of company stock valued at $1,581,173 in the last ninety days. 8.25% of the stock is currently owned by company insiders.

Tarsus Pharmaceuticals Stock Down 0.3 %

Shares of TARS stock traded down $0.14 during mid-day trading on Friday, hitting $49.25. The company's stock had a trading volume of 364,974 shares, compared to its average volume of 681,719. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -12.93 and a beta of 0.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The business has a 50-day moving average price of $47.80 and a 200 day moving average price of $47.57.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, topping analysts' consensus estimates of ($0.68) by $0.08. The business had revenue of $66.41 million during the quarter, compared to analyst estimates of $58.80 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. Research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Tarsus Pharmaceuticals Profile

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.