Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Stake Raised by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 189.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 644,010 shares of the company's stock after acquiring an additional 421,495 shares during the period. Millennium Management LLC owned about 1.68% of Tarsus Pharmaceuticals worth $35,659,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Crowley Wealth Management Inc. bought a new position in shares of Tarsus Pharmaceuticals during the fourth quarter worth about $25,000. R Squared Ltd bought a new position in shares of Tarsus Pharmaceuticals during the fourth quarter worth about $53,000. Quarry LP bought a new position in shares of Tarsus Pharmaceuticals during the fourth quarter worth about $166,000. HighTower Advisors LLC bought a new position in shares of Tarsus Pharmaceuticals during the fourth quarter worth about $207,000. Finally, Summit Investment Advisors Inc. lifted its position in shares of Tarsus Pharmaceuticals by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company's stock worth $213,000 after purchasing an additional 244 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TARS has been the topic of several research analyst reports. Guggenheim increased their price target on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Jefferies Financial Group increased their price target on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. HC Wainwright reaffirmed a "buy" rating and set a $73.00 price target on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Barclays reduced their price target on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tarsus Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $66.33.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS traded up $0.01 during trading hours on Friday, reaching $42.98. The company's stock had a trading volume of 324,236 shares, compared to its average volume of 699,767. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $47.73 and a 200 day simple moving average of $49.11. Tarsus Pharmaceuticals, Inc. has a 52 week low of $20.08 and a 52 week high of $57.28. The stock has a market cap of $1.81 billion, a PE ratio of -11.28 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The firm had revenue of $78.34 million for the quarter, compared to analysts' expectations of $72.50 million. Equities research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the sale, the chief executive officer now owns 824,106 shares of the company's stock, valued at approximately $41,205,300. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Bryan Wahl sold 3,341 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $154,654.89. Following the sale, the general counsel now directly owns 58,057 shares in the company, valued at approximately $2,687,458.53. This trade represents a 5.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,542 shares of company stock valued at $1,581,173 over the last quarter. Insiders own 8.25% of the company's stock.

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.