Tarsus Pharmaceuticals, Inc. $TARS Position Increased by M&T Bank Corp

Key Points

• M&T Bank Corp raised its stake in Tarsus by 11,730% in Q4 to 437,119 shares (1.03% of the company), valued at about $35.79 million.
• Insiders have been net sellers — CEO Bobak Azamian sold 11,964 shares on March 19 (a 26.36% reduction in his position) and insiders sold 79,391 shares (~$5.43 million) in the last 90 days; insiders now own 8.97% of the stock.
• Analysts are mixed but the consensus is a Moderate Buy with a $91.83 target; the stock trades near $63.48 after a slight Q4 EPS miss ($0.20 vs. -$0.19 expected) while revenue beat at $151.67 million.

M&T Bank Corp increased its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 11,730.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 437,119 shares of the company's stock after purchasing an additional 433,424 shares during the period. M&T Bank Corp owned 1.03% of Tarsus Pharmaceuticals worth $35,791,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Tarsus Pharmaceuticals by 19.9% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 109,857 shares of the company's stock valued at $8,995,000 after acquiring an additional 18,267 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Tarsus Pharmaceuticals by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,063 shares of the company's stock valued at $169,000 after acquiring an additional 431 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Tarsus Pharmaceuticals by 39.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 21,722 shares of the company's stock valued at $1,779,000 after acquiring an additional 6,134 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Tarsus Pharmaceuticals by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 130,380 shares of the company's stock valued at $10,531,000 after acquiring an additional 1,643 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Tarsus Pharmaceuticals by 118.8% during the 4th quarter. SG Americas Securities LLC now owns 13,518 shares of the company's stock valued at $1,107,000 after acquiring an additional 7,339 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Insider Buying and Selling

In other news, CEO Bobak R. Azamian sold 11,964 shares of the business's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total value of $801,588.00. Following the sale, the chief executive officer owned 33,421 shares of the company's stock, valued at approximately $2,239,207. The trade was a 26.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey S. Farrow sold 2,186 shares of the business's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total value of $146,462.00. Following the completion of the sale, the insider directly owned 43,316 shares in the company, valued at $2,902,172. This represents a 4.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 79,391 shares of company stock worth $5,432,035. 8.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TARS has been the topic of several recent analyst reports. Guggenheim lifted their target price on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Zacks Research downgraded Tarsus Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday. Wall Street Zen downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Finally, Lifesci Capital raised Tarsus Pharmaceuticals to a "strong-buy" rating in a research note on Monday, March 16th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.83.

Tarsus Pharmaceuticals Stock Down 1.6%

TARS opened at $63.48 on Thursday. Tarsus Pharmaceuticals, Inc. has a one year low of $38.51 and a one year high of $85.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.82 and a current ratio of 3.85. The stock's fifty day moving average is $69.20 and its 200-day moving average is $72.39. The company has a market capitalization of $2.70 billion, a PE ratio of -39.18 and a beta of 0.63.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). Tarsus Pharmaceuticals had a negative return on equity of 19.63% and a negative net margin of 14.72%.The firm had revenue of $151.67 million during the quarter, compared to the consensus estimate of $144.56 million. On average, equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company's research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus's lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.

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