Allspring Global Investments Holdings LLC Sells 36,159 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Tarsus Pharmaceuticals by 21.4%, selling 36,159 shares and retaining a total of 132,562 shares valued at approximately $5.37 million.
• Insider transactions included CEO Bobak R. Azamian selling 6,000 shares for about $332,220, while Director William J. Phd Link sold 27,116 shares for approximately $1.55 million.
• Tarsus Pharmaceuticals' latest earnings report showed a loss per share of ($0.48), missing expectations, although revenue of $102.66 million exceeded analyst estimates.

Allspring Global Investments Holdings LLC decreased its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 21.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,562 shares of the company's stock after selling 36,159 shares during the period. Allspring Global Investments Holdings LLC owned about 0.32% of Tarsus Pharmaceuticals worth $5,370,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Amalgamated Bank increased its holdings in shares of Tarsus Pharmaceuticals by 30.1% during the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after acquiring an additional 295 shares during the last quarter. Strs Ohio bought a new position in Tarsus Pharmaceuticals during the first quarter worth $288,000. Adage Capital Partners GP L.L.C. bought a new position in Tarsus Pharmaceuticals during the first quarter worth $26,199,000. Vanguard Group Inc. increased its holdings in shares of Tarsus Pharmaceuticals by 5.3% in the first quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company's stock valued at $114,380,000 after purchasing an additional 111,433 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Tarsus Pharmaceuticals by 999.5% in the first quarter. Victory Capital Management Inc. now owns 44,320 shares of the company's stock valued at $2,277,000 after purchasing an additional 40,289 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total value of $332,220.00. Following the transaction, the chief executive officer directly owned 812,106 shares of the company's stock, valued at $44,966,309.22. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William J. Phd Link sold 27,116 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the transaction, the director owned 143,332 shares of the company's stock, valued at approximately $8,169,924. This represents a 15.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,116 shares of company stock valued at $2,177,832. 8.97% of the stock is owned by insiders.

Tarsus Pharmaceuticals Trading Down 2.4%

Shares of TARS stock opened at $71.19 on Tuesday. The stock has a market cap of $3.00 billion, a P/E ratio of -30.55 and a beta of 0.81. Tarsus Pharmaceuticals, Inc. has a 1 year low of $35.84 and a 1 year high of $76.81. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $59.15 and a 200 day simple moving average of $49.16.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.15). The company had revenue of $102.66 million during the quarter, compared to analyst estimates of $95.81 million. Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. On average, research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on TARS. Zacks Research upgraded shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Friday, September 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Wednesday, October 8th. Finally, HC Wainwright raised their price objective on shares of Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the stock a "neutral" rating in a research report on Monday. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.33.

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.

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