Freestone Grove Partners LP Takes Position in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Freestone Grove Partners acquired 68,389 Tarsus Pharmaceuticals shares worth approximately $4.3 million, giving it a 0.16% stake. Institutional investors collectively own about 90.01% of Tarsus.
• Tarsus reported quarterly revenue of $173.91 million, ahead of analyst estimates, but its loss of $0.43 per share was wider than the expected $0.19 loss. Analysts expect a full-year loss of approximately $2.06 per share.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $90.50 versus the stock’s recent $71.76 price; however, insiders sold 39,850 shares worth about $2.45 million over the past 90 days.

Freestone Grove Partners LP acquired a new stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 68,389 shares of the company's stock, valued at approximately $4,304,000. Freestone Grove Partners LP owned approximately 0.16% of Tarsus Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Tarsus Pharmaceuticals by 139.2% in the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company's stock worth $35,000 after purchasing an additional 291 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Tarsus Pharmaceuticals by 367.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company's stock valued at $50,000 after purchasing an additional 558 shares during the last quarter. Comerica Bank lifted its holdings in Tarsus Pharmaceuticals by 470.0% during the 4th quarter. Comerica Bank now owns 855 shares of the company's stock valued at $70,000 after purchasing an additional 705 shares during the last quarter. Truvestments Capital LLC boosted its position in Tarsus Pharmaceuticals by 106.1% in the fourth 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, State of Wyoming acquired a new position in Tarsus Pharmaceuticals in the second quarter valued at about $103,000. 90.01% of the stock is owned by institutional investors.

Tarsus Pharmaceuticals Price Performance

Shares of TARS stock opened at $71.76 on Friday. 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. 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 price-to-earnings ratio of -65.83 and a beta of 0.53.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $169.65 million. Sell-side analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current fiscal year.

Insider Transactions at Tarsus Pharmaceuticals

In other news, Director William J. Phd Link sold 12,500 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.12, for a total value of $776,500.00. Following the completion of the sale, the director directly owned 106,786 shares of the company's stock, valued at approximately $6,633,546.32. This trade represents a 10.48% decrease in their position. The transaction was disclosed in a 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 business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total value of $615,500.00. Following the sale, the chief executive officer owned 847,991 shares of the company's stock, valued at approximately $52,193,846.05. The trade was 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 90 days. 9.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on TARS shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Guggenheim reduced their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating on the stock in a report on Tuesday, July 21st. 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 report on Friday, July 31st. Oppenheimer raised their price target on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. Finally, Wall Street Zen lowered Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $90.50.

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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