Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Sold by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC reduced its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 46.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,144 shares of the company's stock after selling 148,754 shares during the period. Tarsus Pharmaceuticals makes up about 8.0% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 2nd biggest position. Ally Bridge Group NY LLC owned approximately 0.45% of Tarsus Pharmaceuticals worth $9,587,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TARS. Barclays PLC raised its position in Tarsus Pharmaceuticals by 345.9% during the third quarter. Barclays PLC now owns 98,663 shares of the company's stock valued at $3,246,000 after purchasing an additional 76,538 shares during the period. Lord Abbett & CO. LLC lifted its position 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 buying an additional 131,636 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Tarsus Pharmaceuticals by 2,088.8% during the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company's stock worth $14,477,000 after buying an additional 420,057 shares during the period. Harbor Capital Advisors Inc. increased its position in Tarsus Pharmaceuticals by 22.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 22,113 shares of the company's stock valued at $1,224,000 after acquiring an additional 4,008 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Tarsus Pharmaceuticals by 0.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company's stock valued at $63,499,000 after acquiring an additional 5,565 shares during the period. Institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Price Performance

Tarsus Pharmaceuticals stock traded up $1.67 during midday trading on Wednesday, reaching $48.12. The company's stock had a trading volume of 130,322 shares, compared to its average volume of 694,175. 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 stock's 50 day simple moving average is $48.11 and its 200 day simple moving average is $48.96. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $57.28. The firm has a market capitalization of $2.02 billion, a PE ratio of -12.65 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, topping 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 business 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 earnings per share for the current year.

Insider Activity

In other Tarsus Pharmaceuticals news, insider Dianne C. Whitfield sold 2,137 shares of Tarsus Pharmaceuticals stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Bryan Wahl sold 3,341 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $154,654.89. Following the completion of the sale, the general counsel now owns 58,057 shares of the company's stock, valued at $2,687,458.53. This represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,542 shares of company stock worth $1,581,173. 8.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on TARS. Jefferies Financial Group raised their price target 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. Barclays cut 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 report on Wednesday, February 26th. Oppenheimer boosted their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group lifted their price target on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Guggenheim lifted their price objective on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. One 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 company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price 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.