Tarsus Pharmaceuticals, Inc. $TARS Stake Boosted by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC increased its holdings in Tarsus Pharmaceuticals by 4.0% during the first quarter, now owning 1,331,701 shares worth approximately $68.4 million.
• CEO Bobak R. Azamian sold 6,000 shares at an average price of $50.00, decreasing his ownership stake to 818,106 shares valued at about $40.9 million.
• Tarsus Pharmaceuticals reported a quarterly earnings loss of ($0.48) EPS, missing the consensus estimate, while its stock has a current market cap of $2.23 billion and a price-to-earnings ratio of -22.63.

Lord Abbett & CO. LLC grew its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,331,701 shares of the company's stock after purchasing an additional 51,714 shares during the quarter. Lord Abbett & CO. LLC owned 3.17% of Tarsus Pharmaceuticals worth $68,409,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amalgamated Bank lifted its stake in shares of Tarsus Pharmaceuticals by 30.1% during 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 lifted its stake in shares of Tarsus Pharmaceuticals by 12.6% during 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 lifted its stake in shares of Tarsus Pharmaceuticals by 36,430.6% during 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. Ameriprise Financial Inc. lifted its stake in shares of Tarsus Pharmaceuticals by 21.2% during the fourth quarter. Ameriprise Financial Inc. now owns 47,685 shares of the company's stock worth $2,640,000 after purchasing an additional 8,336 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Tarsus Pharmaceuticals by 4.3% during the first quarter. Rhumbline Advisers now owns 51,682 shares of the company's stock worth $2,655,000 after purchasing an additional 2,148 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Tarsus Pharmaceuticals Stock Up 0.7%

Tarsus Pharmaceuticals stock traded up $0.40 during midday trading on Monday, hitting $54.61. The stock had a trading volume of 772,647 shares, compared to its average volume of 662,455. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22. The stock has a market cap of $2.31 billion, a P/E ratio of -23.44 and a beta of 0.79. Tarsus Pharmaceuticals, Inc. has a 12 month low of $25.14 and a 12 month high of $57.28. The business has a fifty day moving average price of $42.43 and a 200 day moving average price of $45.71.

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 for the quarter, missing the consensus estimate of ($0.33) by ($0.15). The firm had revenue of $102.66 million during the quarter, compared to the consensus estimate of $95.81 million. Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. Research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on TARS shares. HC Wainwright upgraded Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target on the stock in a research note on Tuesday, May 27th. Wall Street Zen cut Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group boosted their price target on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Oppenheimer started coverage on Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price target on the stock. Finally, Guggenheim boosted their price target on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $66.67.

Insiders Place Their Bets

In related news, CEO Bobak R. Azamian sold 6,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer directly owned 818,106 shares of the company's stock, valued at $40,905,300. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.97% of the stock is currently owned by corporate insiders.

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.