Bobak Azamian Sells 6,000 Shares of Tarsus Pharmaceuticals (NASDAQ:TARS) Stock

Key Points

• CEO Bobak Azamian of Tarsus Pharmaceuticals sold 6,000 shares at an average price of $55.37, totaling $332,220, decreasing his position by 0.73%.
• Tarsus Pharmaceuticals reported a quarterly loss of ($0.48) EPS, missing analysts' estimates by $0.15, despite achieving higher revenue of $102.66 million.
• The stock has received a mixed range of ratings with an average target price of $66.67 and a current trading price around $56.29.

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) CEO Bobak Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total transaction of $332,220.00. Following the sale, the chief executive officer directly owned 812,106 shares in the company, valued at approximately $44,966,309.22. The trade was a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ:TARS traded up $0.90 during midday trading on Friday, hitting $56.29. The stock had a trading volume of 389,196 shares, compared to its average volume of 666,760. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.38 billion, a PE ratio of -24.16 and a beta of 0.81. The stock has a 50 day moving average price of $50.96 and a two-hundred day moving average price of $47.11. Tarsus Pharmaceuticals, Inc. has a 1 year low of $31.36 and a 1 year high of $59.76.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.48) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.15). Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. The company had revenue of $102.66 million for the quarter, compared to the consensus estimate of $95.81 million. As a group, equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Large investors have recently bought and sold shares of the company. Paradigm Biocapital Advisors LP lifted its stake in Tarsus Pharmaceuticals by 3.1% during the first quarter. Paradigm Biocapital Advisors LP now owns 2,610,197 shares of the company's stock worth $134,086,000 after purchasing an additional 78,301 shares in the last quarter. Vanguard Group Inc. grew its stake in Tarsus Pharmaceuticals by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company's stock worth $114,380,000 after acquiring an additional 111,433 shares during the period. Lord Abbett & CO. LLC boosted its position in Tarsus Pharmaceuticals by 4.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,331,701 shares of the company's stock worth $68,409,000 after purchasing an additional 51,714 shares during the period. Geode Capital Management LLC raised its stake in shares of Tarsus Pharmaceuticals by 8.0% in the 2nd quarter. Geode Capital Management LLC now owns 934,420 shares of the company's stock valued at $37,859,000 after purchasing an additional 68,986 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Tarsus Pharmaceuticals by 12.3% in the second quarter. Invesco Ltd. now owns 928,501 shares of the company's stock valued at $37,614,000 after acquiring an additional 101,978 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on TARS. Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price objective for the company. Zacks Research raised Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $66.67.

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.

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