Jefferies Financial Group Inc. Sells 341,950 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Key Points

• Jefferies Financial Group Inc. reduced its holdings in Tarsus Pharmaceuticals by 81.3% in the first quarter, now owning 78,808 shares valued at approximately $4.05 million.
• Tarsus Pharmaceuticals' stock price increased by 5.1%, with a current market cap of $1.71 billion and a reported quarterly revenue of $78.34 million which exceeded analysts' expectations.
• Wall Street analysts have mixed ratings on Tarsus Pharmaceuticals, with recommendations ranging from a "buy" rating by Guggenheim at a target price of $84.00 to a "hold" rating by Wall Street Zen.

Jefferies Financial Group Inc. cut its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 81.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,808 shares of the company's stock after selling 341,950 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.19% of Tarsus Pharmaceuticals worth $4,048,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Tarsus Pharmaceuticals in the 1st quarter valued at about $1,818,000. Victory Capital Management Inc. raised its stake in Tarsus Pharmaceuticals by 999.5% during the 1st quarter. Victory Capital Management Inc. now owns 44,320 shares of the company's stock worth $2,277,000 after buying an additional 40,289 shares during the period. Arizona State Retirement System raised its stake in Tarsus Pharmaceuticals by 6.1% during the 1st quarter. Arizona State Retirement System now owns 8,182 shares of the company's stock worth $420,000 after buying an additional 470 shares during the period. Amalgamated Bank raised its stake in Tarsus Pharmaceuticals by 30.1% during the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after buying an additional 295 shares during the period. Finally, Valmark Advisers Inc. acquired a new position in Tarsus Pharmaceuticals during the 1st quarter worth approximately $283,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock traded down $0.08 during trading on Tuesday, hitting $41.83. The company's stock had a trading volume of 19,516 shares, compared to its average volume of 649,508. The company has a market cap of $1.76 billion, a PE ratio of -15.32 and a beta of 0.79. The company has a current ratio of 5.57, a quick ratio of 5.54 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average of $41.38 and a 200-day moving average of $45.75. Tarsus Pharmaceuticals, Inc. has a 52 week low of $21.44 and a 52 week high of $57.28.

Tarsus Pharmaceuticals 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.