Adage Capital Partners GP L.L.C. Purchases Shares of 510,000 Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Adage Capital Partners GP L.L.C. acquired 510,000 shares in Tarsus Pharmaceuticals, valued at approximately $26.2 million, representing about 1.21% of the company's total shares.
• CEO Bobak R. Azamian sold 6,000 shares at $50 each, totaling $300,000, reducing his ownership stake slightly to 818,106 shares.
• Tarsus Pharmaceuticals reported a loss of $0.48 per share in its latest earnings, missing estimates, despite achieving revenue of $102.66 million for the quarter.

Adage Capital Partners GP L.L.C. purchased a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 510,000 shares of the company's stock, valued at approximately $26,199,000. Adage Capital Partners GP L.L.C. owned about 1.21% of Tarsus Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TARS. GF Fund Management CO. LTD. acquired a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at about $44,000. Amalgamated Bank lifted its holdings in Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock valued at $65,000 after acquiring an additional 295 shares during the last quarter. Quarry LP lifted its holdings in Tarsus Pharmaceuticals by 20.0% in the 1st quarter. Quarry LP now owns 3,599 shares of the company's stock valued at $185,000 after acquiring an additional 599 shares during the last quarter. AlphaQuest LLC purchased a new stake in Tarsus Pharmaceuticals during the first quarter valued at about $189,000. Finally, Bayesian Capital Management LP purchased a new stake in Tarsus Pharmaceuticals during the fourth quarter valued at about $228,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Bobak R. Azamian sold 6,000 shares of the 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 owned 818,106 shares in the company, valued at approximately $40,905,300. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TARS. Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They set an "outperform" rating and a $75.00 price objective for the company. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Zacks Research raised shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Friday, September 5th. Finally, HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective for the company in a research note on Tuesday, May 27th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.67.

Tarsus Pharmaceuticals Stock Down 2.1%

NASDAQ:TARS traded down $1.21 during mid-day trading on Wednesday, reaching $55.28. The stock had a trading volume of 83,935 shares, compared to its average volume of 656,366. The business's 50 day moving average is $47.97 and its 200 day moving average is $46.37. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $30.23 and a fifty-two week high of $59.76. The stock has a market cap of $2.33 billion, a P/E ratio of -23.71 and a beta of 0.81. 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 (NASDAQ:TARS - Get Free Report) last released 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 return on equity of 32.36% and a negative net margin of 31.13%.The firm had revenue of $102.66 million during the quarter, compared to analyst estimates of $95.81 million. As a group, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

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.