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

Several other hedge funds also recently bought and sold shares of the business. Nuveen LLC bought a new position in Tarsus Pharmaceuticals in the 1st quarter valued at $13,589,000. Aigen Investment Management LP grew its position in Tarsus Pharmaceuticals by 30.6% in the 1st 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 last quarter. Swiss National Bank grew its position in Tarsus Pharmaceuticals by 6.1% in the 1st quarter. Swiss National Bank now owns 55,533 shares of the company's stock valued at $2,853,000 after acquiring an additional 3,200 shares during the last quarter. Vanguard Group Inc. grew its position 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 acquiring an additional 111,433 shares during the last quarter. Finally, Thoroughbred Financial Services LLC grew its position in Tarsus Pharmaceuticals by 16.1% in the 1st quarter. Thoroughbred Financial Services LLC now owns 5,510 shares of the company's stock valued at $283,000 after acquiring an additional 765 shares during the last quarter. Institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Trading Up 3.2%

Shares of NASDAQ TARS opened at $55.41 on Thursday. 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 capitalization of $2.34 billion, a P/E ratio of -23.78 and a beta of 0.79. Tarsus Pharmaceuticals, Inc. has a 1-year low of $25.14 and a 1-year high of $57.28. The business has a fifty day moving average price of $43.20 and a 200 day moving average price of $45.84.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of the company'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 completion of the sale, the chief executive officer directly owned 818,106 shares in the company, valued at $40,905,300. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 8.97% of the stock is owned by company 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.

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