Assenagon Asset Management S.A. Trims Stock Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Assenagon Asset Management S.A. reduced its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,125,305 shares of the company's stock after selling 21,507 shares during the quarter. Assenagon Asset Management S.A. owned 2.93% of Tarsus Pharmaceuticals worth $57,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. E. Ohman J or Asset Management AB boosted its position in shares of Tarsus Pharmaceuticals by 23.6% during the first quarter. E. Ohman J or Asset Management AB now owns 42,981 shares of the company's stock worth $2,208,000 after acquiring an additional 8,200 shares during the last quarter. Rhumbline Advisers raised its stake in Tarsus Pharmaceuticals by 4.3% in the 1st quarter. Rhumbline Advisers now owns 51,682 shares of the company's stock worth $2,655,000 after acquiring an additional 2,148 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Tarsus Pharmaceuticals by 36,430.6% during the 1st quarter. GAMMA Investing LLC now owns 13,151 shares of the company's stock valued at $676,000 after buying an additional 13,115 shares during the last quarter. Toronto Dominion Bank acquired a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter valued at about $105,714,000. Finally, GF Fund Management CO. LTD. acquired a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at about $44,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, General Counsel Bryan Wahl sold 3,341 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $154,654.89. Following the completion of the transaction, the general counsel now owns 58,057 shares of the company's stock, valued at $2,687,458.53. This trade represents a 5.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Bobak R. Azamian sold 8,534 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $427,638.74. Following the completion of the transaction, the chief executive officer now owns 53,635 shares in the company, valued at approximately $2,687,649.85. This trade represents a 13.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,542 shares of company stock worth $1,581,173. Insiders own 8.97% of the company's stock.

Tarsus Pharmaceuticals Stock Performance

Tarsus Pharmaceuticals stock traded down $0.01 during mid-day trading on Thursday, hitting $40.95. 690,303 shares of the company's stock traded hands, compared to its average volume of 702,467. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $57.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -10.75 and a beta of 0.83. The firm has a 50 day simple moving average of $45.77 and a two-hundred day simple moving average of $48.74.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.05. The company had revenue of $78.34 million during the quarter, compared to the consensus estimate of $72.50 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. On average, research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on TARS. Guggenheim boosted their target price on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Barclays dropped their price target on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price for the company in a research note on Tuesday, May 27th. Finally, Jefferies Financial Group upped their price target on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $66.67.

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.