Bank of America Corp DE Acquires 104,388 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Bank of America Corp DE raised its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 44.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 337,856 shares of the company's stock after purchasing an additional 104,388 shares during the quarter. Bank of America Corp DE owned 0.88% of Tarsus Pharmaceuticals worth $18,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of TARS. Barclays PLC lifted its position in Tarsus Pharmaceuticals by 345.9% during the third quarter. Barclays PLC now owns 98,663 shares of the company's stock valued at $3,246,000 after purchasing an additional 76,538 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter valued at $53,000. Baader Bank Aktiengesellschaft bought a new position in shares of Tarsus Pharmaceuticals during the 4th quarter valued at $249,000. China Universal Asset Management Co. Ltd. raised its position in Tarsus Pharmaceuticals by 10.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,106 shares of the company's stock worth $449,000 after purchasing an additional 789 shares during the period. Finally, Jennison Associates LLC raised its position in Tarsus Pharmaceuticals by 14.8% in the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company's stock worth $138,432,000 after purchasing an additional 321,552 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Bryan Wahl sold 3,341 shares of Tarsus Pharmaceuticals stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $154,654.89. Following the sale, the general counsel now owns 58,057 shares of the company's stock, valued at approximately $2,687,458.53. The trade was a 5.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Bobak R. Azamian sold 8,534 shares of Tarsus Pharmaceuticals stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $427,638.74. Following the sale, the chief executive officer now directly owns 53,635 shares in the company, valued at $2,687,649.85. The trade was a 13.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,542 shares of company stock valued at $1,581,173. Corporate insiders own 8.25% of the company's stock.

Tarsus Pharmaceuticals Trading Up 0.0%

Shares of TARS stock traded up $0.01 during mid-day trading on Friday, reaching $42.98. The stock had a trading volume of 324,236 shares, compared to its average volume of 699,767. The stock's 50-day moving average price is $47.79 and its two-hundred day moving average price is $49.12. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The firm has a market capitalization of $1.81 billion, a PE ratio of -11.28 and a beta of 0.94. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. Equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TARS has been the topic of a number of analyst reports. HC Wainwright reiterated a "buy" rating and issued a $73.00 target price on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Jefferies Financial Group lifted their target price on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday. 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 report on Friday, May 2nd. Finally, Barclays decreased their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tarsus Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $66.33.

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.