Blair William & Co. IL Lowers Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Key Points

• Blair William & Co. IL significantly reduced its holdings in Tarsus Pharmaceuticals by 58.1%, selling 15,814 shares, and now owns 11,416 shares valued at approximately $586,000.
• Tarsus Pharmaceuticals reported quarterly earnings with a loss of ($0.48) per share, missing estimates, but achieved a revenue of $102.66 million, exceeding expectations.
• Analysts have varied ratings on Tarsus Pharmaceuticals, with an average rating of "Moderate Buy" and a price target of $66.67 as several firms adjusted their recommendations and price targets recently.

Blair William & Co. IL cut its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 58.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,416 shares of the company's stock after selling 15,814 shares during the quarter. Blair William & Co. IL's holdings in Tarsus Pharmaceuticals were worth $586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TARS. GF Fund Management CO. LTD. bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter valued at $44,000. Amalgamated Bank grew its stake 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 buying an additional 295 shares in the last quarter. Quarry LP bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter valued at $166,000. Summit Investment Advisors Inc. grew its stake in shares of Tarsus Pharmaceuticals by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company's stock valued at $213,000 after buying an additional 244 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter valued at $228,000. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer directly owned 818,106 shares in the company, valued at $40,905,300. This represents a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.97% of the stock is currently owned by company insiders.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock traded up $1.36 during trading on Wednesday, reaching $52.72. The company's stock had a trading volume of 866,748 shares, compared to its average volume of 663,141. The business's 50-day moving average price is $41.82 and its 200-day moving average price is $45.71. The firm has a market cap of $2.23 billion, a PE ratio of -22.63 and a beta of 0.79. Tarsus Pharmaceuticals, Inc. has a 52 week low of $24.95 and a 52 week high of $57.28. The company has a quick ratio of 5.21, a current ratio of 5.26 and a debt-to-equity ratio of 0.22.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its 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). 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 net margin of 31.13% and a negative return on equity of 32.36%. Equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Guggenheim lifted their price objective on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price objective for the company. The Goldman Sachs Group lifted their price objective on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective for the company in a research report on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.