Profund Advisors LLC Buys 14,385 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Profund Advisors increased its Tarsus Pharmaceuticals stake by 288.1% in the third quarter, buying 14,385 shares for a total holding of 19,378 shares valued at approximately $1.52 million. Institutional investors collectively own 90.01% of the company.
• Tarsus shares opened at $73.32, versus a 52-week range of $53.89 to $91.53. The company reported quarterly revenue of $173.91 million but missed earnings expectations, posting a loss of $0.43 per share versus the $0.19-per-share consensus.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $100.86. However, insiders sold 48,031 shares worth about $4.0 million over the past three months.

Profund Advisors LLC increased its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 288.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,378 shares of the company's stock after buying an additional 14,385 shares during the period. Profund Advisors LLC's holdings in Tarsus Pharmaceuticals were worth $1,523,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its position in Tarsus Pharmaceuticals by 22.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 8,390 shares of the company's stock valued at $643,000 after acquiring an additional 1,543 shares during the period. Sterling Capital Management LLC raised its position in shares of Tarsus Pharmaceuticals by 840.1% in the 3rd quarter. Sterling Capital Management LLC now owns 1,382 shares of the company's stock worth $109,000 after purchasing an additional 1,235 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Tarsus Pharmaceuticals by 29.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 51,700 shares of the company's stock worth $4,064,000 after purchasing an additional 11,700 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Tarsus Pharmaceuticals by 851.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 590 shares of the company's stock worth $46,000 after purchasing an additional 528 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its stake in Tarsus Pharmaceuticals by 66.5% in the 2nd quarter. Engineers Gate Manager LP now owns 4,755 shares of the company's stock worth $299,000 after purchasing an additional 1,900 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ:TARS opened at $73.32 on Tuesday. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $53.89 and a fifty-two week high of $91.53. The business has a 50-day simple moving average of $75.17 and a two-hundred day simple moving average of $67.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of -67.27 and a beta of 0.44.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The company had revenue of $173.91 million for the quarter, compared to the consensus estimate of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. On average, analysts expect that Tarsus Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

Insider Activity

In related news, insider Elizabeth Lin sold 10,773 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $87.50, for a total transaction of $942,637.50. Following the transaction, the insider owned 2,547 shares in the company, valued at $222,862.50. This represents a 80.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak Azamian sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the sale, the chief executive officer owned 827,991 shares in the company, valued at $74,982,864.96. This represents a 1.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 48,031 shares of company stock valued at $4,004,227 over the last three months. Insiders own 9.64% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TARS. Mizuho cut their price objective on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Guggenheim decreased their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating for the company in a report on Tuesday, July 21st. Zacks Research raised shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 13th. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Barclays initiated coverage on shares of Tarsus Pharmaceuticals in a report on Wednesday, September 16th. They set an "overweight" rating and a $110.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $100.86.

Tarsus Pharmaceuticals Profile

Tarsus Pharmaceuticals, Inc is a commercial-stage ophthalmic pharmaceutical company focused on developing and marketing treatments for eye diseases with significant unmet medical needs. The company's portfolio is centered on therapies designed to address conditions affecting the ocular surface and eyelids.

Tarsus' lead product is XDEMVY (lotilaner ophthalmic solution) 0.25%, an eye drop approved by the U.S. Food and Drug Administration in 2023 for the treatment of Demodex blepharitis, an inflammatory eyelid condition associated with an infestation of Demodex mites.

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