Canada Pension Plan Investment Board Acquires Shares of 98,900 Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Canada Pension Plan Investment Board acquired 98,900 Tarsus Pharmaceuticals shares worth approximately $6.2 million, representing a 0.23% stake. Institutional investors and hedge funds collectively own 90.01% of the company.
• Analyst sentiment remains mixed but leans positive: Tarsus has a consensus “Moderate Buy” rating and an average price target of $90.50, despite ratings ranging from “Strong Buy” to “Sell.”
• Tarsus reported quarterly revenue of $173.91 million, exceeding estimates, but its loss of $0.43 per share was wider than expected. Insiders also sold 39,850 shares worth about $2.45 million over the past three months.

Canada Pension Plan Investment Board bought a new stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 98,900 shares of the company's stock, valued at approximately $6,225,000. Canada Pension Plan Investment Board owned 0.23% of Tarsus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Tarsus Pharmaceuticals by 139.2% during the first quarter. Parallel Advisors LLC now owns 500 shares of the company's stock worth $35,000 after purchasing an additional 291 shares during the period. PNC Financial Services Group Inc. increased its holdings in Tarsus Pharmaceuticals by 367.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company's stock valued at $50,000 after buying an additional 558 shares during the period. Comerica Bank raised its position in shares of Tarsus Pharmaceuticals by 470.0% in the 4th quarter. Comerica Bank now owns 855 shares of the company's stock valued at $70,000 after buying an additional 705 shares in the last quarter. Truvestments Capital LLC raised its position in shares of Tarsus Pharmaceuticals by 106.1% in the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company's stock valued at $74,000 after buying an additional 468 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Tarsus Pharmaceuticals by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company's stock worth $105,000 after acquiring an additional 172 shares during the period. 90.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TARS. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Oppenheimer upped their target price on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. HC Wainwright reaffirmed a "buy" rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Mizuho decreased their price target on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $90.50.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock opened at $71.76 on Monday. The firm's 50 day moving average is $64.39 and its 200 day moving average is $65.34. The firm has a market capitalization of $3.15 billion, a PE ratio of -65.83 and a beta of 0.53. Tarsus Pharmaceuticals, Inc. has a 1 year low of $48.20 and a 1 year high of $85.25. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. The company had revenue of $173.91 million during the quarter, compared to the consensus estimate of $169.65 million. Equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.06 earnings per share for the current fiscal year.

Insider Activity at Tarsus Pharmaceuticals

In other news, Director Katherine Goodrich sold 2,954 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.08, for a total value of $183,384.32. Following the completion of the transaction, the director directly owned 2,233 shares in the company, valued at approximately $138,624.64. This represents a 56.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the firm's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the sale, the chief executive officer directly owned 847,991 shares in the company, valued at approximately $52,193,846.05. This trade represents a 1.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 39,850 shares of company stock valued at $2,452,821 over the last three months. 9.64% of the stock is currently owned by corporate insiders.

Tarsus Pharmaceuticals Company Profile

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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