Atika Capital Management LLC Purchases New Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Atika Capital Management LLC bought a new stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 177,200 shares of the company's stock, valued at approximately $9,812,000. Tarsus Pharmaceuticals makes up 1.0% of Atika Capital Management LLC's portfolio, making the stock its 28th largest position. Atika Capital Management LLC owned approximately 0.46% of Tarsus Pharmaceuticals as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TARS. Jennison Associates LLC lifted its position in Tarsus Pharmaceuticals by 14.8% in the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company's stock worth $138,432,000 after purchasing an additional 321,552 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Tarsus Pharmaceuticals by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company's stock valued at $117,117,000 after buying an additional 17,839 shares during the period. Assenagon Asset Management S.A. boosted its stake in Tarsus Pharmaceuticals by 0.5% during 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 buying an additional 5,565 shares in the last quarter. Geode Capital Management LLC grew its holdings in Tarsus Pharmaceuticals by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 838,804 shares of the company's stock worth $46,456,000 after acquiring an additional 3,014 shares during the period. Finally, Lord Abbett & CO. LLC raised 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 acquiring an additional 131,636 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Dianne C. Whitfield sold 2,137 shares of the firm'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 transaction, the insider now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Bryan Wahl sold 3,084 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $154,539.24. Following the completion of the sale, the general counsel now directly owns 51,712 shares in the company, valued at $2,591,288.32. This trade represents a 5.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,542 shares of company stock valued at $1,581,173 in the last quarter. Insiders own 8.25% of the company's stock.

Analyst Upgrades and Downgrades

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

Tarsus Pharmaceuticals Stock Up 1.3 %

Shares of TARS traded up $0.56 during mid-day trading on Friday, reaching $44.68. The company's stock had a trading volume of 294,540 shares, compared to its average volume of 675,985. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -11.73 and a beta of 0.94. The business has a fifty day moving average of $48.33 and a 200 day moving average of $47.12. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. Tarsus Pharmaceuticals, Inc. has a 1 year low of $20.08 and a 1 year high of $57.28.

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

About Tarsus Pharmaceuticals

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.