Informed Momentum Co LLC Sells 19,402 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Key Points

• Informed Momentum Co LLC has reduced its holdings in Tarsus Pharmaceuticals by 27%, now owning 52,413 shares worth approximately $2.69 million.
• Several institutional investors increased their stakes in Tarsus Pharmaceuticals during the fourth quarter, with Toronto Dominion Bank acquiring a new stake worth $105.71 million.
• Analyst ratings for Tarsus Pharmaceuticals are generally positive, with a mix of upgrades and a current average target price of $66.67, reflecting a "Moderate Buy" consensus.

Informed Momentum Co LLC trimmed its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 27.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,413 shares of the company's stock after selling 19,402 shares during the period. Informed Momentum Co LLC owned 0.12% of Tarsus Pharmaceuticals worth $2,692,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TARS. Paradigm Biocapital Advisors LP boosted its holdings in Tarsus Pharmaceuticals by 3.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company's stock worth $140,191,000 after purchasing an additional 91,451 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Tarsus Pharmaceuticals by 5.3% during the first quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company's stock worth $114,380,000 after purchasing an additional 111,433 shares during the last quarter. Toronto Dominion Bank acquired a new position in Tarsus Pharmaceuticals during the fourth quarter worth $105,714,000. Lord Abbett & CO. LLC boosted its holdings in Tarsus Pharmaceuticals by 115.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company's stock worth $70,873,000 after purchasing an additional 685,111 shares during the last quarter. Finally, Invesco Ltd. raised its position in Tarsus Pharmaceuticals by 36.7% during the fourth quarter. Invesco Ltd. now owns 932,115 shares of the company's stock worth $51,611,000 after acquiring an additional 250,018 shares in the last quarter. 90.01% of the stock is owned by institutional investors.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock traded up $0.07 on Friday, hitting $54.21. The company's stock had a trading volume of 873,738 shares, compared to its average volume of 697,360. The company has a market capitalization of $2.29 billion, a PE ratio of -23.27 and a beta of 0.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $24.95 and a fifty-two week high of $57.28. The stock's 50 day moving average is $42.43 and its 200-day moving average is $45.75.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.15). The firm had revenue of $102.66 million for the quarter, compared to analyst estimates of $95.81 million. Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%. Equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the sale, the chief executive officer directly owned 818,106 shares in the company, valued at approximately $40,905,300. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.97% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.