Cutter Capital Management LP Boosts Stock Position in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Cutter Capital Management LP increased its stake in Tarsus Pharmaceuticals by 82.2%, acquiring an additional 92,500 shares and bringing its total to 205,000 shares worth approximately $10.5 million.
• Recent analyst ratings show Tarsus Pharmaceuticals has received a mix of both upgrades and downgrades, with a current consensus rating of "Moderate Buy" and a target price of $66.67.
• Tarsus Pharmaceuticals reported a quarterly earnings loss of ($0.48) per share, missing estimates, while generating revenue of $102.66 million for the quarter, surpassing expectations.

Cutter Capital Management LP boosted its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 82.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 205,000 shares of the company's stock after acquiring an additional 92,500 shares during the quarter. Tarsus Pharmaceuticals accounts for about 4.6% of Cutter Capital Management LP's investment portfolio, making the stock its 12th largest position. Cutter Capital Management LP owned 0.49% of Tarsus Pharmaceuticals worth $10,531,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Paradigm Biocapital Advisors LP grew its holdings in shares of Tarsus Pharmaceuticals by 3.1% during the first quarter. Paradigm Biocapital Advisors LP now owns 2,610,197 shares of the company's stock worth $134,086,000 after purchasing an additional 78,301 shares in the last quarter. Vanguard Group Inc. lifted its position in Tarsus Pharmaceuticals by 5.3% during the first quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company's stock valued at $114,380,000 after purchasing an additional 111,433 shares during the last quarter. Toronto Dominion Bank bought a new stake in Tarsus Pharmaceuticals during the fourth quarter valued at approximately $105,714,000. Lord Abbett & CO. LLC grew its stake in Tarsus Pharmaceuticals by 4.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,331,701 shares of the company's stock worth $68,409,000 after buying an additional 51,714 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of Tarsus Pharmaceuticals in the 1st quarter worth $36,876,000. Institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TARS. Zacks Research raised shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Friday. Wall Street Zen downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. HC Wainwright upgraded Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective for the company in a report on Tuesday, May 27th. Finally, Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $66.67.

Tarsus Pharmaceuticals Trading Down 0.9%

Shares of NASDAQ:TARS traded down $0.54 on Tuesday, reaching $56.35. 166,451 shares of the company traded hands, compared to its average volume of 656,945. The stock has a market capitalization of $2.38 billion, a P/E ratio of -24.15 and a beta of 0.81. The business's 50-day simple moving average is $47.64 and its 200 day simple moving average is $46.29. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22. Tarsus Pharmaceuticals, Inc. has a 52 week low of $30.23 and a 52 week high of $59.76.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.15). Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. The company had revenue of $102.66 million for the quarter, compared to analysts' expectations of $95.81 million. As a group, equities analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 6,000 shares of the firm's stock in a transaction that occurred on 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 trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.97% of the company's stock.

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.