Cutter Capital Management LP Makes New $6.23 Million Investment in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Cutter Capital Management LP purchased a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 112,500 shares of the company's stock, valued at approximately $6,229,000. Tarsus Pharmaceuticals accounts for approximately 2.6% of Cutter Capital Management LP's holdings, making the stock its 19th largest holding. Cutter Capital Management LP owned approximately 0.29% of Tarsus Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of TARS. Crowley Wealth Management Inc. acquired a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter valued at approximately $25,000. R Squared Ltd bought a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at about $53,000. Quarry LP bought a new position in shares of Tarsus Pharmaceuticals in the 4th quarter worth $166,000. HighTower Advisors LLC bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter valued at approximately $207,000. Finally, Summit Investment Advisors Inc. grew its position in Tarsus Pharmaceuticals by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company's stock worth $213,000 after purchasing an additional 244 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Stock Down 4.8 %

TARS traded down $2.27 during midday trading on Friday, reaching $44.87. The company's stock had a trading volume of 529,648 shares, compared to its average volume of 689,361. The stock's 50-day moving average is $48.26 and its 200-day moving average is $49.14. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -11.78 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 current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.64) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.05. The business had revenue of $78.34 million during the quarter, compared to analyst estimates of $72.50 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. As a group, research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insiders Place Their Bets

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, General Counsel Bryan Wahl sold 3,084 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $50.11, for a total value of $154,539.24. Following the sale, the general counsel now directly owns 51,712 shares of the company's stock, valued at $2,591,288.32. This represents a 5.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,542 shares of company stock valued at $1,581,173. Company insiders own 8.25% of the company's stock.

Analyst Ratings Changes

TARS has been the subject of a number of research analyst reports. HC Wainwright restated a "buy" rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Guggenheim lifted their price target on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Jefferies Financial Group lifted their price target on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. The Goldman Sachs Group increased their target price on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, Oppenheimer increased their price objective on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $66.33.

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.