Tarsus Pharmaceuticals, Inc. $TARS Shares Sold by Ally Bridge Group NY LLC

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 holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 26.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,932 shares of the company's stock after selling 45,212 shares during the quarter. Tarsus Pharmaceuticals makes up approximately 5.9% of Ally Bridge Group NY LLC's holdings, making the stock its 5th largest 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 institutional investors and hedge funds have also modified their holdings of TARS. Toronto Dominion Bank acquired a new position in shares of Tarsus Pharmaceuticals in the 4th quarter worth approximately $105,714,000. Driehaus Capital Management LLC acquired a new position in Tarsus Pharmaceuticals during the 1st quarter worth $36,876,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Tarsus Pharmaceuticals in the 1st quarter valued at $26,199,000. Millennium Management LLC lifted its stake in shares of Tarsus Pharmaceuticals by 189.4% in 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 position in shares of Tarsus Pharmaceuticals in the 1st quarter valued at $13,589,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price objective for the company. HC Wainwright upgraded Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price for the company in a report on Tuesday, May 27th. Finally, Wall Street Zen cut Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $66.67.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ:TARS traded down $0.72 during trading on Monday, reaching $56.91. 224,521 shares of the stock were exchanged, compared to its average volume of 655,394. Tarsus Pharmaceuticals, Inc. has a 12 month low of $29.92 and a 12 month high of $59.76. The firm has a market cap of $2.40 billion, a PE ratio of -24.52 and a beta of 0.81. The stock has a 50-day moving average price of $47.31 and a 200-day moving average price of $46.23. 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). 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 for the quarter, compared to the consensus estimate of $95.81 million. Research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction that occurred 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. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.97% of the company's stock.

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.