Nuveen LLC Purchases Shares of 264,523 Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Nuveen LLC has acquired 264,523 shares of Tarsus Pharmaceuticals, valued at approximately $13.6 million, representing a 0.63% ownership stake as per their SEC filing.
• The stock of Tarsus Pharmaceuticals has seen a 2.1% increase recently, and it currently trades around $56.56, with a market cap of $2.39 billion.
• Despite missing earnings estimates with a loss of ($0.48) EPS, Tarsus reported revenue of $102.66 million, exceeding expectations of $95.81 million.

Nuveen LLC acquired a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 264,523 shares of the company's stock, valued at approximately $13,589,000. Nuveen LLC owned about 0.63% of Tarsus Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Aigen Investment Management LP boosted its position in shares of Tarsus Pharmaceuticals by 30.6% in the first quarter. Aigen Investment Management LP now owns 9,802 shares of the company's stock valued at $504,000 after acquiring an additional 2,298 shares during the period. Swiss National Bank raised its stake in Tarsus Pharmaceuticals by 6.1% in the 1st quarter. Swiss National Bank now owns 55,533 shares of the company's stock worth $2,853,000 after purchasing an additional 3,200 shares in the last quarter. 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. Thoroughbred Financial Services LLC grew its position in shares of Tarsus Pharmaceuticals by 16.1% during the 1st quarter. Thoroughbred Financial Services LLC now owns 5,510 shares of the company's stock worth $283,000 after purchasing an additional 765 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Tarsus Pharmaceuticals during the 1st quarter worth approximately $1,818,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TARS. Oppenheimer initiated coverage on Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price target for the company. The Goldman Sachs Group upped their target price on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Guggenheim increased their target price 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 downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective for the company in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $66.67.

Tarsus Pharmaceuticals Price Performance

Shares of TARS traded up $0.69 during mid-day trading on Friday, reaching $57.25. The company had a trading volume of 615,773 shares, compared to its average volume of 729,781. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -24.57 and a beta of 0.79. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26. The company's 50 day simple moving average is $43.84 and its 200 day simple moving average is $45.79. Tarsus Pharmaceuticals, Inc. has a 1-year low of $25.19 and a 1-year high of $57.60.

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

Insider Activity at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of the firm's stock in a transaction on Monday, August 11th. 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 owned 818,106 shares of the company's stock, valued at $40,905,300. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.97% 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.