Assenagon Asset Management S.A. Sells 127,718 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Assenagon Asset Management S.A. reduced its stake in Tarsus Pharmaceuticals by 11.3% during Q2, resulting in ownership of approximately 2.37% of the company.
• Several large investors, including Ameriprise Financial and BNP Paribas, increased their stakes in Tarsus Pharmaceuticals during the fourth quarter, indicating a strong interest from institutional investors.
• Tarsus Pharmaceuticals reported a net loss of ($0.48) per share in its latest earnings report, missing analysts' estimates, while also achieving revenue of $102.66 million during the quarter.

Assenagon Asset Management S.A. decreased its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 997,587 shares of the company's stock after selling 127,718 shares during the period. Assenagon Asset Management S.A. owned 2.37% of Tarsus Pharmaceuticals worth $40,412,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in shares of Tarsus Pharmaceuticals by 30.1% in the first quarter. Amalgamated Bank now owns 1,274 shares of the company's stock valued at $65,000 after purchasing an additional 295 shares in the last quarter. GAMMA Investing LLC increased its position in Tarsus Pharmaceuticals by 36,430.6% in the first quarter. GAMMA Investing LLC now owns 13,151 shares of the company's stock worth $676,000 after buying an additional 13,115 shares during the last quarter. Ameriprise Financial Inc. increased its position in Tarsus Pharmaceuticals by 21.2% in the fourth quarter. Ameriprise Financial Inc. now owns 47,685 shares of the company's stock worth $2,640,000 after buying an additional 8,336 shares during the last quarter. Rhumbline Advisers increased its position in Tarsus Pharmaceuticals by 4.3% in the first quarter. Rhumbline Advisers now owns 51,682 shares of the company's stock worth $2,655,000 after buying an additional 2,148 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Tarsus Pharmaceuticals in the first quarter worth $26,199,000. Institutional investors own 90.01% of the company's stock.

Insider Transactions at Tarsus Pharmaceuticals

In related news, Director William J. Phd Link sold 27,116 shares of the business's stock in a transaction dated Monday, September 8th. The stock was 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 in the company, valued at $8,169,924. The trade was a 15.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bobak R. Azamian sold 6,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the chief executive officer owned 818,106 shares in the company, valued at approximately $40,905,300. This represents a 0.73% decrease in their position. The disclosure for this sale can be found here. 8.97% of the stock is owned by insiders.

Tarsus Pharmaceuticals Trading Up 1.1%

Shares of NASDAQ:TARS traded up $0.63 during trading on Monday, reaching $55.63. 721,717 shares of the company traded hands, compared to its average volume of 710,364. The business's fifty day moving average is $50.10 and its 200-day moving average is $46.92. Tarsus Pharmaceuticals, Inc. has a 52-week low of $31.36 and a 52-week high of $59.76. 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 firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -23.88 and a beta of 0.81.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $95.81 million. As a group, analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Analyst Ratings Changes

TARS has been the subject of a number of recent research reports. HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price for the company in a research report on Tuesday, May 27th. Oppenheimer initiated coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price target for the company. Finally, Zacks Research upgraded Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.67.

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.