Bank of America Corp DE Increases Stock Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Bank of America Corp DE lifted its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 44.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 337,856 shares of the company's stock after buying an additional 104,388 shares during the quarter. Bank of America Corp DE owned approximately 0.88% of Tarsus Pharmaceuticals worth $18,707,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TARS. Jennison Associates LLC raised its stake in Tarsus Pharmaceuticals by 14.8% in the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company's stock valued at $138,432,000 after purchasing an additional 321,552 shares in the last quarter. Vanguard Group Inc. raised its stake in Tarsus Pharmaceuticals by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company's stock valued at $117,117,000 after purchasing an additional 17,839 shares in the last quarter. Lord Abbett & CO. LLC raised its stake in Tarsus Pharmaceuticals by 115.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company's stock valued at $70,873,000 after purchasing an additional 685,111 shares in the last quarter. Invesco Ltd. raised its stake in Tarsus Pharmaceuticals by 36.7% in the fourth quarter. Invesco Ltd. now owns 932,115 shares of the company's stock valued at $51,611,000 after purchasing an additional 250,018 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Tarsus Pharmaceuticals by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 838,804 shares of the company's stock valued at $46,456,000 after purchasing an additional 3,014 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TARS has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their target price on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. The Goldman Sachs Group raised their target price on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday. Guggenheim increased their price target on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, HC Wainwright reiterated a "buy" rating and set a $73.00 price target on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $66.33.

Insider Transactions at Tarsus Pharmaceuticals

In other news, General Counsel Bryan Wahl sold 3,341 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $154,654.89. Following the transaction, the general counsel now owns 58,057 shares in the company, valued at approximately $2,687,458.53. This trade represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bobak R. Azamian sold 7,131 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $330,093.99. Following the completion of the transaction, the chief executive officer now owns 70,720 shares in the company, valued at $3,273,628.80. This represents a 9.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,542 shares of company stock worth $1,581,173. Insiders own 8.25% of the company's stock.

Tarsus Pharmaceuticals Price Performance

NASDAQ TARS traded up $0.01 on Monday, reaching $42.98. 324,236 shares of the company's stock traded hands, compared to its average volume of 701,612. Tarsus Pharmaceuticals, Inc. has a 12 month low of $20.08 and a 12 month high of $57.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The stock has a 50-day simple moving average of $47.60 and a 200 day simple moving average of $49.09. The stock has a market cap of $1.81 billion, a PE ratio of -11.28 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The firm had revenue of $78.34 million for the quarter, compared to analysts' expectations of $72.50 million. As a group, research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Tarsus Pharmaceuticals 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.