Hsbc Holdings PLC Grows Stake in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• HSBC Holdings increased its Tarsus Pharmaceuticals stake by 295% in the second quarter, bringing its holdings to 38,090 shares valued at approximately $2.43 million. Institutional investors collectively own about 90% of TARS.
• Analyst sentiment remains generally positive, with Tarsus receiving a “Moderate Buy” consensus rating and an average price target of $92.57, despite some downgrades to “Hold” and “Sell.”
• Tarsus reported quarterly revenue of $173.91 million, ahead of estimates, but its loss of $0.43 per share was wider than expected. Shares recently traded at $79.31, while insiders sold roughly $5.48 million worth of stock over the past 90 days.

Hsbc Holdings PLC lifted its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 295.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,090 shares of the company's stock after purchasing an additional 28,447 shares during the quarter. Hsbc Holdings PLC owned about 0.09% of Tarsus Pharmaceuticals worth $2,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in shares of Tarsus Pharmaceuticals by 139.2% during the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company's stock valued at $35,000 after acquiring an additional 291 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Tarsus Pharmaceuticals by 367.1% during the first 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 grew its stake in Tarsus Pharmaceuticals by 470.0% in the 4th quarter. Comerica Bank now owns 855 shares of the company's stock worth $70,000 after buying an additional 705 shares in the last quarter. Truvestments Capital LLC increased its holdings in shares of Tarsus Pharmaceuticals by 106.1% in the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company's stock worth $74,000 after buying an additional 468 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $103,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

Analyst Upgrades and Downgrades

TARS has been the subject of a number of research reports. Wall Street Zen cut Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Mizuho dropped their target price on Tarsus Pharmaceuticals from $100.00 to $98.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. HC Wainwright reaffirmed a "buy" rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Finally, Guggenheim cut their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating for the company in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $92.57.

Tarsus Pharmaceuticals Trading Down 2.2%

NASDAQ:TARS opened at $79.31 on Friday. The firm has a market capitalization of $3.48 billion, a P/E ratio of -72.76 and a beta of 0.54. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average of $68.12 and a 200 day moving average of $66.64. Tarsus Pharmaceuticals, Inc. has a 52 week low of $48.20 and a 52 week high of $91.53.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The firm had revenue of $173.91 million for the quarter, compared to the consensus estimate of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. On average, research analysts predict that Tarsus Pharmaceuticals, Inc. will post -2.4 earnings per share for the current year.

Insider Activity at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, insider Jeffrey S. Farrow sold 14,396 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total value of $877,436.20. Following the completion of the sale, the insider owned 56,801 shares in the company, valued at approximately $3,462,020.95. This trade represents a 20.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Link, PhD sold 12,500 shares of Tarsus Pharmaceuticals stock in a transaction that occurred 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 owned 106,786 shares in the company, valued at approximately $6,633,546.32. This represents a 10.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 75,381 shares of company stock worth $5,477,298 over the last 90 days. 9.64% of the stock is owned by insiders.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a commercial-stage ophthalmic pharmaceutical company focused on developing and marketing treatments for eye conditions with significant unmet medical needs. The company's lead product is XDEMVY (lotilaner ophthalmic solution) 0.25%, a prescription eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis, a common eyelid disorder associated with an infestation of Demodex mites.

XDEMVY is designed to target and eliminate Demodex mites, addressing an underlying cause of the disease rather than only managing its symptoms.

Want to see what other hedge funds are holding TARS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.