BNP Paribas Financial Markets Has $29.16 Million Holdings in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• BNP Paribas Financial Markets boosted its Tarsus Pharmaceuticals stake by 74.3% in the fourth quarter, ending with 356,105 shares valued at about $29.16 million.
• Several other institutional investors also increased holdings, and 90.01% of TARS stock is owned by institutions and hedge funds, highlighting strong institutional interest in the company.
• Insiders have been selling shares recently, including CEO Bobak R. Azamian and General Counsel Bryan Wahl, even as analysts remain generally positive with a Moderate Buy consensus and a target price of $90.67.

BNP Paribas Financial Markets increased its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 74.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 356,105 shares of the company's stock after purchasing an additional 151,805 shares during the period. BNP Paribas Financial Markets owned approximately 0.84% of Tarsus Pharmaceuticals worth $29,158,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TARS. Deep Track Capital LP boosted its stake in shares of Tarsus Pharmaceuticals by 71.4% during the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company's stock worth $178,290,000 after buying an additional 1,250,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Tarsus Pharmaceuticals by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company's stock valued at $196,476,000 after purchasing an additional 127,470 shares during the period. Geode Capital Management LLC raised its holdings in Tarsus Pharmaceuticals by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 947,763 shares of the company's stock valued at $77,616,000 after acquiring an additional 3,267 shares during the period. Invesco Ltd. raised its holdings in Tarsus Pharmaceuticals by 0.9% in the 3rd quarter. Invesco Ltd. now owns 937,006 shares of the company's stock valued at $55,686,000 after acquiring an additional 8,505 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in Tarsus Pharmaceuticals by 3.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 558,326 shares of the company's stock valued at $33,181,000 after acquiring an additional 19,023 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, General Counsel Bryan Wahl sold 4,231 shares of Tarsus Pharmaceuticals stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $67.00, for a total transaction of $283,477.00. Following the transaction, the general counsel owned 63,959 shares in the company, valued at approximately $4,285,253. The trade was a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bobak R. Azamian sold 11,964 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $67.00, for a total transaction of $801,588.00. Following the sale, the chief executive officer directly owned 33,421 shares of the company's stock, valued at $2,239,207. This represents a 26.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 79,391 shares of company stock worth $5,432,035 in the last three months. 9.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TARS has been the topic of several research analyst reports. Guggenheim increased their price target on shares of Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, February 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Tuesday, April 21st. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Oppenheimer started coverage on shares of Tarsus Pharmaceuticals in a research report on Friday, April 24th. They set an "outperform" rating and a $98.00 target price on the stock. Finally, Lifesci Capital upgraded shares of Tarsus Pharmaceuticals to a "strong-buy" rating in a research report on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.67.

Tarsus Pharmaceuticals Trading Up 2.7%

NASDAQ TARS opened at $60.34 on Friday. The company has a quick ratio of 3.71, a current ratio of 3.74 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals, Inc. has a twelve month low of $38.51 and a twelve month high of $85.25. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -52.93 and a beta of 0.49. The business's fifty day moving average is $64.80 and its 200 day moving average is $70.64.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.24. The company had revenue of $162.05 million for the quarter, compared to analyst estimates of $149.60 million. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. As a group, sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -0.59 EPS for the current fiscal year.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company's research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus's lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.

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