Russell Investments Group Ltd. Acquires 132,450 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Tarsus Pharmaceuticals by acquiring an additional 132,450 shares, boosting its ownership percentage to approximately 0.32% worth around $6.9 million.
• Tarsus Pharmaceuticals has reported a quarterly loss of ($0.48) earnings per share, missing analyst estimates, despite exceeding revenue expectations with $102.66 million.
• Analysts have given Tarsus Pharmaceuticals a consensus rating of "Buy" with an average price target of $66.67, reflecting strong interest from institutional investors, who own 90.01% of the company.

Russell Investments Group Ltd. grew its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 6,112.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 134,617 shares of the company's stock after acquiring an additional 132,450 shares during the period. Russell Investments Group Ltd. owned about 0.32% of Tarsus Pharmaceuticals worth $6,915,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Summit Investment Advisors Inc. raised its stake 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 valued at $213,000 after acquiring an additional 244 shares during the last quarter. Amalgamated Bank raised its stake in shares of Tarsus Pharmaceuticals by 30.1% during the first quarter. Amalgamated Bank now owns 1,274 shares of the company's stock valued at $65,000 after acquiring an additional 295 shares during the last quarter. Sherbrooke Park Advisers LLC raised its stake in shares of Tarsus Pharmaceuticals by 7.2% during the fourth quarter. Sherbrooke Park Advisers LLC now owns 6,571 shares of the company's stock valued at $364,000 after acquiring an additional 443 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Tarsus Pharmaceuticals by 6.1% during the first quarter. Arizona State Retirement System now owns 8,182 shares of the company's stock valued at $420,000 after acquiring an additional 470 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Tarsus Pharmaceuticals by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,926 shares of the company's stock valued at $1,159,000 after acquiring an additional 724 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Stock Up 4.0%

NASDAQ:TARS traded up $2.24 during trading hours on Tuesday, reaching $58.85. The company had a trading volume of 534,211 shares, compared to its average volume of 731,236. The company has a quick ratio of 5.21, a current ratio of 5.26 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -25.26 and a beta of 0.79. The business's 50-day simple moving average is $44.53 and its two-hundred day simple moving average is $45.86. Tarsus Pharmaceuticals, Inc. has a twelve month low of $25.82 and a twelve month high of $58.95.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on TARS. Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They set an "outperform" rating and a $75.00 target price for the company. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price for the company in a research note on Tuesday, May 27th. Guggenheim lifted their target price on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $66.67.

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 6,000 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer directly owned 818,106 shares in the company, valued at approximately $40,905,300. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.97% of the company's stock.

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.