Driehaus Capital Management LLC Invests $36.88 Million in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Driehaus Capital Management LLC has invested approximately $36.88 million in Tarsus Pharmaceuticals, buying 717,853 shares, which accounts for about 1.71% ownership of the company.
• Hedge funds hold around 90.01% of Tarsus Pharmaceuticals' stock, with significant increases in stakes from firms like Paradigm Biocapital Advisors and Vanguard Group.
• Tarsus Pharmaceuticals saw its stock rating downgraded from "buy" to "hold" by Wall Street Zen, while Oppenheimer set a target price of $75.00, reflecting mixed outlooks among analysts.

Driehaus Capital Management LLC purchased a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 717,853 shares of the company's stock, valued at approximately $36,876,000. Driehaus Capital Management LLC owned approximately 1.71% of Tarsus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new stake in Tarsus Pharmaceuticals in the fourth quarter valued at $44,000. Amalgamated Bank raised its holdings in Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock valued at $65,000 after acquiring an additional 295 shares during the last quarter. AlphaQuest LLC purchased a new position in Tarsus Pharmaceuticals during the first quarter worth approximately $189,000. Bayesian Capital Management LP purchased a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter valued at about $228,000. Finally, Corton Capital Inc. acquired a new stake in Tarsus Pharmaceuticals during the fourth quarter worth about $261,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Trading Up 0.7%

NASDAQ:TARS traded up $0.42 during trading hours on Friday, reaching $58.58. 374,275 shares of the stock were exchanged, compared to its average volume of 663,854. Tarsus Pharmaceuticals, Inc. has a twelve month low of $25.82 and a twelve month high of $58.95. The business has a 50-day moving average of $45.57 and a two-hundred day moving average of $45.95. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -25.14 and a beta of 0.81. 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $102.66 million during the quarter, compared to analyst estimates of $95.81 million. On average, equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 6,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on TARS shares. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. HC Wainwright upgraded shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target for the company in a report on Tuesday, May 27th. The Goldman Sachs Group upped their price objective on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, Oppenheimer began coverage on Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They set an "outperform" rating and a $75.00 target price for the company. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $66.67.

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.