Northern Trust Corp Increases Position in Tarsus Pharmaceuticals, Inc. $TARS

Northern Trust Corp boosted its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,432 shares of the company's stock after buying an additional 5,816 shares during the period. Northern Trust Corp owned approximately 0.87% of Tarsus Pharmaceuticals worth $18,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Amalgamated Bank grew its stake in Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock valued at $65,000 after buying an additional 295 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Tarsus Pharmaceuticals by 36,430.6% in the 1st quarter. GAMMA Investing LLC now owns 13,151 shares of the company's stock valued at $676,000 after purchasing an additional 13,115 shares during the period. Ameriprise Financial Inc. boosted its holdings in Tarsus Pharmaceuticals by 21.2% in the 4th quarter. Ameriprise Financial Inc. now owns 47,685 shares of the company's stock valued at $2,640,000 after purchasing an additional 8,336 shares during the period. Rhumbline Advisers boosted its holdings in Tarsus Pharmaceuticals by 4.3% in the 1st quarter. Rhumbline Advisers now owns 51,682 shares of the company's stock valued at $2,655,000 after purchasing an additional 2,148 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Tarsus Pharmaceuticals by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company's stock valued at $114,380,000 after purchasing an additional 111,433 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on TARS. HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target for the company in a report on Tuesday, May 27th. Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a report on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price target for the company. Finally, Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $66.67.

Tarsus Pharmaceuticals Trading Down 0.5%

Tarsus Pharmaceuticals stock traded down $0.29 during mid-day trading on Thursday, hitting $57.43. The company's stock had a trading volume of 686,348 shares, compared to its average volume of 657,883. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.26 and a quick ratio of 5.21. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -24.65 and a beta of 0.81. The business has a 50 day moving average price of $46.62 and a 200-day moving average price of $46.17. Tarsus Pharmaceuticals, Inc. has a 12 month low of $27.17 and a 12 month high of $59.76.

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

Insider Activity

In related news, CEO Bobak R. Azamian sold 6,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the transaction, the chief executive officer owned 818,106 shares in the company, 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 hyperlink. 8.97% of the stock is owned by corporate insiders.

About Tarsus Pharmaceuticals

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.