Pictet Asset Management Holding SA Sells 36,069 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Pictet Asset Management trimmed its stake in Tarsus by 49% in Q4, selling 36,069 shares and ending the period with 37,578 shares worth $3.08 million (about 0.09% of the company).
• Other large moves include Deep Track Capital boosting its position to 3,000,000 shares (~$178.3M) and M&T Bank increasing to 437,119 shares (~$35.8M); institutional investors now own roughly 90% of Tarsus.
• Insiders have been net sellers—79,391 shares (~$5.43M) sold over the last three months—while analyst coverage is mixed but averages a "Moderate Buy" with a $90.67 target (Oppenheimer initiated coverage with an Outperform and $98 target).

Pictet Asset Management Holding SA trimmed its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 49.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,578 shares of the company's stock after selling 36,069 shares during the period. Pictet Asset Management Holding SA owned 0.09% of Tarsus Pharmaceuticals worth $3,080,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Deep Track Capital LP increased its position in shares of Tarsus Pharmaceuticals by 71.4% during the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company's stock valued at $178,290,000 after buying an additional 1,250,000 shares during the period. M&T Bank Corp lifted its holdings in Tarsus Pharmaceuticals by 11,730.0% in the fourth quarter. M&T Bank Corp now owns 437,119 shares of the company's stock worth $35,791,000 after buying an additional 433,424 shares during the period. MPM Bioimpact LLC bought a new stake in Tarsus Pharmaceuticals during the 2nd quarter valued at approximately $13,834,000. TimesSquare Capital Management LLC bought a new stake in Tarsus Pharmaceuticals during the 3rd quarter valued at approximately $15,898,000. Finally, Qube Research & Technologies Ltd grew its holdings in shares of Tarsus Pharmaceuticals by 86.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 459,436 shares of the company's stock worth $18,612,000 after acquiring an additional 212,592 shares during the period. Institutional investors own 90.01% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Bryan Wahl sold 4,231 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total value of $283,477.00. Following the sale, the general counsel directly owned 63,959 shares of the company's stock, valued at approximately $4,285,253. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dianne C. Whitfield sold 4,174 shares of the firm's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $67.00, for a total value of $279,658.00. Following the transaction, the insider owned 35,028 shares of the company's stock, valued at $2,346,876. The trade was a 10.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 79,391 shares of company stock worth $5,432,035 over the last three months. 8.97% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an "outperform" rating and a $98.00 target price for the company. The Goldman Sachs Group restated a "neutral" rating and set a $68.00 price target on shares of Tarsus Pharmaceuticals in a research report on Thursday, February 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Tuesday, April 21st. Wall Street Zen downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Saturday, April 18th. Finally, Zacks Research lowered Tarsus Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. 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 given a Sell rating to the company's stock. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $90.67.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS opened at $63.62 on Monday. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $38.51 and a fifty-two week high of $85.25. The company has a 50 day simple moving average of $69.07 and a two-hundred day simple moving average of $72.07. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of -39.27 and a beta of 0.52. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.82 and a current ratio of 3.85.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The company had revenue of $151.67 million during the quarter, compared to the consensus estimate of $144.56 million. Tarsus Pharmaceuticals had a negative return on equity of 19.63% and a negative net margin of 14.72%. Analysts expect that Tarsus Pharmaceuticals, Inc. will post -0.74 EPS for the current fiscal year.

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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