90,969 Shares in Tarsus Pharmaceuticals, Inc. $TARS Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 90,969 Tarsus Pharmaceuticals shares valued at approximately $5.7 million, while institutional investors collectively own 90.01% of the company.
• Tarsus insiders sold 39,850 shares worth about $2.45 million over the past 90 days, including sales by the CEO and a director under pre-arranged Rule 10b5-1 plans.
• TARS recently traded at $71.92, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $90.50. The company exceeded revenue estimates but reported a larger-than-expected quarterly loss.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 90,969 shares of the company's stock, valued at approximately $5,726,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.21% of Tarsus Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in shares of Tarsus Pharmaceuticals in the second quarter worth about $288,000. Emerald Investment Advisers LLC acquired a new position in shares of Tarsus Pharmaceuticals during the second quarter worth approximately $3,760,000. BlackRock Inc. bought a new stake in shares of Tarsus Pharmaceuticals during the second quarter valued at approximately $242,705,000. Deutsche Bank AG bought a new stake in shares of Tarsus Pharmaceuticals during the second quarter valued at approximately $4,120,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Tarsus Pharmaceuticals during the second quarter valued at approximately $23,249,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 10,000 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total value of $615,500.00. Following the transaction, the chief executive officer directly owned 847,991 shares in the company, valued at $52,193,846.05. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Phd Link sold 12,500 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.12, for a total value of $776,500.00. Following the sale, the director directly owned 106,786 shares of the company's stock, valued at approximately $6,633,546.32. This trade represents a 10.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 39,850 shares of company stock worth $2,452,821. 9.64% of the stock is currently owned by insiders.

Tarsus Pharmaceuticals Stock Up 1.8%

Shares of NASDAQ:TARS opened at $71.92 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.20 and a quick ratio of 3.17. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of -65.98 and a beta of 0.53. The company has a 50 day moving average of $64.22 and a 200-day moving average of $65.29. Tarsus Pharmaceuticals, Inc. has a one year low of $48.20 and a one year high of $85.25.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright reiterated a "buy" rating and issued a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Mizuho decreased their price objective on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Guggenheim lowered their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Finally, Oppenheimer boosted their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $90.50.

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.

Want to see what other hedge funds are holding TARS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source