Ally Bridge Group NY LLC Sells 45,212 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Ally Bridge Group NY LLC has reduced its stake in Tarsus Pharmaceuticals by 26.1%, selling 45,212 shares and holding 127,932 shares, which represents 5.9% of its investment portfolio.
• Analysts have mixed ratings for Tarsus Pharmaceuticals, with a majority giving it a Moderate Buy rating and a price target averaging $66.67.
• Tarsus Pharmaceuticals reported a quarterly revenue of $102.66 million, although it missed EPS estimates by $0.15 at ($0.48).

Ally Bridge Group NY LLC reduced its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 26.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,932 shares of the company's stock after selling 45,212 shares during the quarter. Tarsus Pharmaceuticals accounts for 5.9% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 5th biggest holding. Ally Bridge Group NY LLC owned about 0.30% of Tarsus Pharmaceuticals worth $6,572,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TARS. Toronto Dominion Bank acquired a new stake in Tarsus Pharmaceuticals during the 4th quarter valued at $105,714,000. Driehaus Capital Management LLC acquired a new stake in Tarsus Pharmaceuticals during the 1st quarter valued at $36,876,000. Adage Capital Partners GP L.L.C. acquired a new stake in Tarsus Pharmaceuticals during the 1st quarter valued at $26,199,000. Millennium Management LLC raised its stake in Tarsus Pharmaceuticals by 189.4% during the 4th quarter. Millennium Management LLC now owns 644,010 shares of the company's stock valued at $35,659,000 after purchasing an additional 421,495 shares during the period. Finally, Nuveen LLC acquired a new stake in Tarsus Pharmaceuticals during the 1st quarter valued at $13,589,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TARS has been the topic of several recent analyst reports. HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price on the stock in a research note on Tuesday, May 27th. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $66.67.

Insider Transactions at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 8.97% of the company's stock.

Tarsus Pharmaceuticals Trading Up 0.0%

Shares of NASDAQ:TARS opened at $58.59 on Wednesday. The stock has a market capitalization of $2.47 billion, a PE ratio of -25.15 and a beta of 0.81. Tarsus Pharmaceuticals, Inc. has a 1 year low of $25.82 and a 1 year high of $59.76. The firm has a fifty day moving average price of $46.27 and a 200 day moving average price of $46.09. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.15). The business had revenue of $102.66 million during the quarter, compared to the consensus estimate of $95.81 million. Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%. Analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

About Tarsus Pharmaceuticals

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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