Quantbot Technologies LP Makes New Investment in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Quantbot Technologies LP has acquired 16,020 shares of Tarsus Pharmaceuticals valued at approximately $823,000, indicating significant interest from institutional investors in the company.
• Tarsus Pharmaceuticals reported a loss of $0.48 per share in its latest quarterly earnings, missing analysts' expectations, while revenue was higher than expected at $102.66 million.
• The average price target from analysts for Tarsus Pharmaceuticals is $66.67, reflecting a generally positive outlook despite a recent downgrade from Wall Street Zen.

Quantbot Technologies LP purchased a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,020 shares of the company's stock, valued at approximately $823,000.

Other institutional investors have also recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new position in Tarsus Pharmaceuticals in the 4th quarter worth about $44,000. Amalgamated Bank increased its stake in Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after purchasing an additional 295 shares in the last quarter. Quarry LP purchased a new position in Tarsus Pharmaceuticals in the 4th quarter worth about $166,000. Bayesian Capital Management LP purchased a new position in Tarsus Pharmaceuticals in the 4th quarter worth about $228,000. Finally, Corton Capital Inc. purchased a new position in Tarsus Pharmaceuticals in the 4th quarter worth about $261,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock traded up $0.34 during trading on Thursday, reaching $58.16. The company had a trading volume of 409,669 shares, compared to its average volume of 657,648. The firm's 50 day simple moving average is $44.87 and its two-hundred day simple moving average is $45.94. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.26 and a quick ratio of 5.21. Tarsus Pharmaceuticals, Inc. has a one year low of $25.82 and a one year high of $58.95. The company has a market capitalization of $2.45 billion, a PE ratio of -24.96 and a beta of 0.79.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.48) earnings per share 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 during the quarter, compared to the consensus estimate of $95.81 million. Sell-side analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price target on the stock. Guggenheim raised their price objective on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. HC Wainwright upgraded Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective for the company in a research report on Tuesday, May 27th. The Goldman Sachs Group raised their price objective on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Finally, Wall Street Zen lowered Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $66.67.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the chief executive officer directly owned 818,106 shares of the company's stock, valued at approximately $40,905,300. This trade represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.97% of the company's stock.

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.