Ally Bridge Group NY LLC Acquires Shares of 80,859 Tarsus Pharmaceuticals, Inc. $TARS

Ally Bridge Group NY LLC bought a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 80,859 shares of the company's stock, valued at approximately $5,672,000. Tarsus Pharmaceuticals accounts for about 4.6% of Ally Bridge Group NY LLC's portfolio, making the stock its 5th biggest position. Ally Bridge Group NY LLC owned about 0.19% of Tarsus Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Parallel Advisors LLC raised its position in Tarsus Pharmaceuticals by 139.2% in the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company's stock worth $35,000 after purchasing an additional 291 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Tarsus Pharmaceuticals by 367.1% during the first quarter. PNC Financial Services Group Inc. now owns 710 shares of the company's stock valued at $50,000 after buying an additional 558 shares during the last quarter. Comerica Bank raised its holdings in shares of Tarsus Pharmaceuticals by 470.0% in the fourth quarter. Comerica Bank now owns 855 shares of the company's stock worth $70,000 after buying an additional 705 shares during the period. Truvestments Capital LLC raised its holdings in shares of Tarsus Pharmaceuticals by 106.1% in the fourth quarter. Truvestments Capital LLC now owns 909 shares of the company's stock worth $74,000 after buying an additional 468 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Tarsus Pharmaceuticals by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company's stock worth $105,000 after acquiring an additional 172 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Analysts Set New Price Targets

TARS has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. HC Wainwright reaffirmed a "buy" rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an "outperform" rating and a $98.00 price objective for the company. Finally, Guggenheim dropped their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $90.50.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 10,000 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total transaction of $615,500.00. Following the completion of the sale, the chief executive officer directly owned 847,991 shares in the company, valued at $52,193,846.05. This represents a 1.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katherine Goodrich sold 2,954 shares of the company's stock in a transaction 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 $138,624.64. This trade represents a 56.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 39,850 shares of company stock valued at $2,452,821. 9.64% of the stock is owned by corporate insiders.

Tarsus Pharmaceuticals Stock Down 1.9%

Shares of Tarsus Pharmaceuticals stock opened at $58.95 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.74 and a quick ratio of 3.71. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -51.71 and a beta of 0.50. The firm's 50-day moving average is $61.44 and its two-hundred day moving average is $65.64. Tarsus Pharmaceuticals, Inc. has a 1 year low of $38.51 and a 1 year high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. The business had revenue of $162.05 million during the quarter, compared to analyst estimates of $149.60 million. As a group, research analysts expect that Tarsus Pharmaceuticals, Inc. will post -1.04 earnings per share for the current fiscal year.

Tarsus Pharmaceuticals 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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