Allostery Investments LP Invests $753,000 in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Allostery Investments LP purchased a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,600 shares of the company's stock, valued at approximately $753,000. Tarsus Pharmaceuticals accounts for about 0.8% of Allostery Investments LP's holdings, making the stock its 21st largest position.

A number of other large investors have also recently bought and sold shares of TARS. Freestone Grove Partners LP bought a new position in shares of Tarsus Pharmaceuticals during the fourth quarter valued at about $439,000. Voleon Capital Management LP purchased a new stake in Tarsus Pharmaceuticals in the fourth quarter worth approximately $292,000. Northern Trust Corp boosted its holdings in shares of Tarsus Pharmaceuticals by 12.6% during the fourth quarter. Northern Trust Corp now owns 357,616 shares of the company's stock worth $19,801,000 after purchasing an additional 40,061 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Tarsus Pharmaceuticals by 42.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 46,777 shares of the company's stock worth $2,590,000 after buying an additional 13,848 shares during the period. Finally, Tudor Investment Corp ET AL bought a new position in Tarsus Pharmaceuticals in the fourth quarter worth about $769,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS traded up $1.67 during mid-day trading on Wednesday, reaching $48.12. 130,322 shares of the stock were exchanged, compared to its average volume of 694,175. The company has a market capitalization of $2.02 billion, a P/E ratio of -12.65 and a beta of 0.94. Tarsus Pharmaceuticals, Inc. has a 1 year low of $20.08 and a 1 year high of $57.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The business's 50 day moving average is $48.11 and its 200-day moving average is $48.96.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The firm had revenue of $78.34 million for the quarter, compared to analysts' expectations of $72.50 million. On average, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Bobak R. Azamian sold 7,131 shares of Tarsus Pharmaceuticals stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $330,093.99. Following the completion of the transaction, the chief executive officer now owns 70,720 shares of the company's stock, valued at $3,273,628.80. The trade was a 9.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Bryan Wahl sold 3,341 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $154,654.89. Following the transaction, the general counsel now directly owns 58,057 shares in the company, valued at $2,687,458.53. The trade was a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,542 shares of company stock valued at $1,581,173 in the last ninety days. Company insiders own 8.25% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group upped their price target on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research note on Monday. Jefferies Financial Group boosted their price objective on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Guggenheim boosted their price target on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. HC Wainwright reaffirmed a "buy" rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Finally, Barclays cut their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tarsus Pharmaceuticals has a consensus rating of "Buy" and a consensus price target of $66.33.

Tarsus Pharmaceuticals Company 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.