Cutter Capital Management LP Has $10.53 Million 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 lifted its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 82.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 205,000 shares of the company's stock after purchasing an additional 92,500 shares during the quarter. Tarsus Pharmaceuticals accounts for approximately 4.6% of Cutter Capital Management LP's holdings, making the stock its 12th largest position. Cutter Capital Management LP owned approximately 0.49% of Tarsus Pharmaceuticals worth $10,531,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. 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 buying an additional 295 shares during the period. Sherbrooke Park Advisers LLC lifted its holdings in shares of Tarsus Pharmaceuticals by 7.2% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 6,571 shares of the company's stock valued at $364,000 after buying an additional 443 shares during the period. Arizona State Retirement System lifted its holdings in shares of Tarsus Pharmaceuticals by 6.1% in the first quarter. Arizona State Retirement System now owns 8,182 shares of the company's stock valued at $420,000 after buying an additional 470 shares during the period. Quarry LP lifted its holdings in shares of Tarsus Pharmaceuticals by 20.0% in the first quarter. Quarry LP now owns 3,599 shares of the company's stock valued at $185,000 after buying an additional 599 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Tarsus Pharmaceuticals by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,926 shares of the company's stock valued at $1,159,000 after buying an additional 724 shares during the period. Institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Stock Up 0.3%

Tarsus Pharmaceuticals stock traded up $0.20 during mid-day trading on Friday, hitting $57.63. The company's stock had a trading volume of 683,534 shares, compared to its average volume of 624,484. The firm's 50 day moving average is $47.31 and its 200 day moving average is $46.25. The company has a market cap of $2.43 billion, a PE ratio of -24.73 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.26 and a quick ratio of 5.21. Tarsus Pharmaceuticals, Inc. has a 52-week low of $28.07 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 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 analyst estimates of $95.81 million. On average, analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a report on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price objective for the company. Wall Street Zen downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price for the company in a report on Tuesday, May 27th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $66.67.

Insider Activity at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the transaction, the chief executive officer owned 818,106 shares of the company's stock, valued at approximately $40,905,300. This represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.97% of the company's stock.

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.