Ghisallo Capital Management LLC Takes Position in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Ghisallo Capital Management LLC has acquired a new stake in Tarsus Pharmaceuticals, purchasing 40,000 shares valued at approximately $2.05 million, increasing their ownership to 0.10% of the company.
• Other hedge funds, such as Amalgamated Bank and GAMMA Investing LLC, have also significantly increased their stakes, indicating a strong interest in Tarsus Pharmaceuticals among institutional investors.
• Despite missing earnings estimates with a reported EPS of ($0.48), Tarsus Pharmaceuticals achieved revenue of $102.66 million, exceeding expectations, highlighting financial volatility amidst a growing revenue stream.

Ghisallo Capital Management LLC acquired a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 40,000 shares of the company's stock, valued at approximately $2,055,000. Ghisallo Capital Management LLC owned approximately 0.10% of Tarsus Pharmaceuticals at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of Tarsus Pharmaceuticals by 20.0% during the 1st quarter. Quarry LP now owns 3,599 shares of the company's stock worth $185,000 after acquiring an additional 599 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its stake in shares of Tarsus Pharmaceuticals by 3.1% during the 1st quarter. Paradigm Biocapital Advisors LP now owns 2,610,197 shares of the company's stock worth $134,086,000 after acquiring an additional 78,301 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Tarsus Pharmaceuticals during the 1st quarter worth approximately $36,876,000. FORA Capital LLC purchased a new stake in shares of Tarsus Pharmaceuticals during the 1st quarter worth approximately $271,000. Finally, Jump Financial LLC purchased a new stake in shares of Tarsus Pharmaceuticals during the 1st quarter worth approximately $2,507,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

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 on Monday, August 11th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer directly owned 818,106 shares in the company, valued at approximately $40,905,300. The trade was a 0.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.97% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TARS. Oppenheimer began coverage on Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They set an "outperform" rating and a $75.00 price target on the stock. HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target on the stock in a research note on Tuesday, May 27th. Finally, Wall Street Zen downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $66.67.

Tarsus Pharmaceuticals Price Performance

Shares of Tarsus Pharmaceuticals stock traded down $0.29 during trading on Thursday, hitting $57.43. 686,326 shares of the company were exchanged, compared to its average volume of 656,134. 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, Inc. has a fifty-two week low of $27.17 and a fifty-two week high of $59.76. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -24.65 and a beta of 0.81. The firm has a 50 day moving average price of $46.62 and a 200 day moving average price of $46.17.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly 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). The business had revenue of $102.66 million during the quarter, compared to analyst estimates of $95.81 million. Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. On average, equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

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.