114,458 Shares in Tarsus Pharmaceuticals, Inc. $TARS Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 114,458 shares of Tarsus Pharmaceuticals, valued at approximately $7.2 million, giving it a 0.27% stake. Institutional investors collectively own 90.01% of the company.
• Tarsus insiders sold 51,428 shares worth approximately $3.35 million over the past three months, while insiders retain a 9.64% ownership stake.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $90.50, although the company recently missed quarterly EPS estimates despite exceeding revenue expectations.

Bank of New York Mellon Corp bought a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 114,458 shares of the company's stock, valued at approximately $7,204,000. Bank of New York Mellon Corp owned about 0.27% of Tarsus Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Tarsus Pharmaceuticals by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company's stock worth $196,476,000 after buying an additional 127,470 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Tarsus Pharmaceuticals by 24.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 332,446 shares of the company's stock valued at $27,221,000 after buying an additional 64,941 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Tarsus Pharmaceuticals by 57.5% during the 1st quarter. Bank of America Corp DE now owns 1,194,377 shares of the company's stock worth $83,786,000 after acquiring an additional 436,271 shares during the period. Ishara Investments LP bought a new position in shares of Tarsus Pharmaceuticals during the 4th quarter worth about $1,965,000. Finally, Legato Capital Management LLC boosted its position in shares of Tarsus Pharmaceuticals by 122.1% during the 4th quarter. Legato Capital Management LLC now owns 17,755 shares of the company's stock valued at $1,454,000 after acquiring an additional 9,760 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, Director Katherine Goodrich sold 2,954 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.08, for a total value of $183,384.32. Following the sale, the director owned 2,233 shares of the company's stock, valued at approximately $138,624.64. This trade represents a 56.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total value of $877,436.20. Following the completion of the sale, the insider owned 56,801 shares in the company, valued at $3,462,020.95. The trade was a 20.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 51,428 shares of company stock worth $3,350,810 over the last three months. Company insiders own 9.64% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on TARS. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Mizuho cut their price target on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Oppenheimer lifted their price objective on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a research note on Friday, July 17th. Finally, Guggenheim dropped their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.50.

Tarsus Pharmaceuticals Stock Up 0.5%

Shares of NASDAQ:TARS opened at $83.21 on Friday. Tarsus Pharmaceuticals, Inc. has a 12 month low of $48.20 and a 12 month high of $85.25. The company's 50-day moving average price is $65.45 and its two-hundred day moving average price is $65.75. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.65 billion, a P/E ratio of -76.34 and a beta of 0.54.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.24). The company had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. As a group, research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current fiscal year.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company's research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus's lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.

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