Grant GrossMendelsohn LLC Trims Stock Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Grant GrossMendelsohn LLC trimmed its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 66.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,156 shares of the company's stock after selling 26,143 shares during the quarter. Grant GrossMendelsohn LLC's holdings in Tarsus Pharmaceuticals were worth $654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Amalgamated Bank grew its stake in Tarsus Pharmaceuticals by 30.1% in the first quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after purchasing an additional 295 shares in the last quarter. Northern Trust Corp grew its stake in Tarsus Pharmaceuticals by 12.6% in the fourth quarter. Northern Trust Corp now owns 357,616 shares of the company's stock worth $19,801,000 after purchasing an additional 40,061 shares in the last quarter. GAMMA Investing LLC grew its stake in Tarsus Pharmaceuticals by 36,430.6% in the first quarter. GAMMA Investing LLC now owns 13,151 shares of the company's stock worth $676,000 after purchasing an additional 13,115 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Tarsus Pharmaceuticals during the 4th quarter valued at $1,107,000. Finally, Ameriprise Financial Inc. boosted its position in Tarsus Pharmaceuticals by 21.2% during the 4th quarter. Ameriprise Financial Inc. now owns 47,685 shares of the company's stock valued at $2,640,000 after acquiring an additional 8,336 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price on the stock in a research report on Tuesday, May 27th. Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 target price on the stock. The Goldman Sachs Group increased their target price on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Guggenheim increased their target price on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen cut Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.67.

Tarsus Pharmaceuticals Stock Down 2.3%

Shares of Tarsus Pharmaceuticals stock traded down $0.95 during trading on Tuesday, reaching $40.58. The company's stock had a trading volume of 538,928 shares, compared to its average volume of 685,984. The company has a quick ratio of 5.54, a current ratio of 5.57 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.70 billion, a price-to-earnings ratio of -14.86 and a beta of 0.80. Tarsus Pharmaceuticals, Inc. has a 1-year low of $20.08 and a 1-year high of $57.28. The company has a 50-day simple moving average of $42.23 and a two-hundred day simple moving average of $46.87.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) earnings per share for the quarter, topping analysts' consensus estimates of ($0.69) by $0.05. The firm had revenue of $78.34 million during the quarter, compared to analysts' expectations of $72.50 million. Tarsus Pharmaceuticals had a negative return on equity of 39.72% and a negative net margin of 44.91%. As a group, equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

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.