Jupiter Topco LLC Invests $176.83 Million in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Jupiter Topco LLC acquired 2.81 million Tarsus Pharmaceuticals shares worth approximately $176.8 million, giving it a 6.4% stake. Institutional investors collectively own 90.01% of the company.
• Tarsus reported quarterly revenue of $173.91 million, exceeding estimates, but its adjusted loss of $0.43 per share was wider than the expected $0.19 loss. Analysts maintain a “Moderate Buy” consensus with an average price target of $90.50.
• TARS shares opened at $70.65, compared with a 52-week range of $48.20 to $85.25. Company insiders sold 39,850 shares worth $2.45 million over the past 90 days under pre-arranged trading plans.

Jupiter Topco LLC acquired a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,808,796 shares of the company's stock, valued at approximately $176,834,000. Jupiter Topco LLC owned about 6.40% of Tarsus Pharmaceuticals at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Tarsus Pharmaceuticals by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company's stock valued at $1,137,000 after acquiring an additional 1,217 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tarsus Pharmaceuticals by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company's stock worth $3,659,000 after purchasing an additional 1,394 shares during the period. Jane Street Group LLC increased its holdings in Tarsus Pharmaceuticals by 105.8% in the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company's stock valued at $537,000 after purchasing an additional 190,000 shares during the last quarter. JPMorgan Chase & Co. raised its position in Tarsus Pharmaceuticals by 402.7% in the second quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company's stock valued at $5,696,000 after purchasing an additional 112,637 shares during the period. Finally, Invesco Ltd. lifted its stake in Tarsus Pharmaceuticals by 12.3% during the second quarter. Invesco Ltd. now owns 928,501 shares of the company's stock worth $37,614,000 after purchasing an additional 101,978 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock opened at $70.65 on Thursday. The business has a 50-day simple moving average of $64.05 and a 200-day simple moving average of $65.24. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. Tarsus Pharmaceuticals, Inc. has a one year low of $48.20 and a one year high of $85.25. The company has a market cap of $3.10 billion, a PE ratio of -64.82 and a beta of 0.53.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.24). Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. The firm had revenue of $173.91 million during the quarter, compared to analyst estimates of $169.65 million. On average, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TARS has been the topic of several research analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Oppenheimer boosted their price target on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Guggenheim cut their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Tuesday, July 21st. Finally, Mizuho reduced their target price on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.50.

Insider Activity

In other news, Director William J. Phd Link sold 12,500 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, June 15th. The shares were sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the sale, the director directly owned 106,786 shares of the company's stock, valued at approximately $6,633,546.32. The trade was a 10.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the completion of the transaction, the chief executive officer directly owned 847,991 shares in the company, valued at $52,193,846.05. This trade represents a 1.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 39,850 shares of company stock valued at $2,452,821 in the last 90 days. Company insiders own 9.64% of the company's stock.

Tarsus Pharmaceuticals Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company's research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus's lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.

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