Tarsus Pharmaceuticals, Inc. $TARS Stake Lessened by Aberdeen Group plc

Key Points

• Aberdeen Group plc reduced its holdings in Tarsus Pharmaceuticals by 44.6%, owning about 0.12% of the company after selling 41,781 shares.
• Institutional investors hold 90.01% of Tarsus Pharmaceuticals, with notable increases in holdings from hedge funds like Lord Abbett & CO. LLC and Millennium Management LLC.
• Tarsus Pharmaceuticals has received mixed ratings from analysts, with a consensus rating of Buy and a price target averaging $66.67 as of the latest reports.

Aberdeen Group plc trimmed its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 44.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,869 shares of the company's stock after selling 41,781 shares during the period. Aberdeen Group plc owned about 0.12% of Tarsus Pharmaceuticals worth $2,665,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Paradigm Biocapital Advisors LP grew its stake in shares of Tarsus Pharmaceuticals by 3.7% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company's stock valued at $140,191,000 after buying an additional 91,451 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 111,433 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter valued at about $105,714,000. Lord Abbett & CO. LLC raised its stake in shares of Tarsus Pharmaceuticals by 4.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,331,701 shares of the company's stock valued at $68,409,000 after purchasing an additional 51,714 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Tarsus Pharmaceuticals by 189.4% in the 4th quarter. Millennium Management LLC now owns 644,010 shares of the company's stock valued at $35,659,000 after purchasing an additional 421,495 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Price Performance

TARS traded up $0.69 on Friday, hitting $57.25. 615,773 shares of the company's stock were exchanged, compared to its average volume of 738,466. Tarsus Pharmaceuticals, Inc. has a twelve month low of $25.19 and a twelve month high of $57.60. The stock has a fifty day moving average of $43.84 and a two-hundred day moving average of $45.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.26 and a quick ratio of 5.21.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TARS shares. HC Wainwright upgraded shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price on the stock in a research note on Tuesday, May 27th. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They issued an "outperform" rating and a $75.00 target price on the stock. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group increased their price objective 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. Finally, Guggenheim increased their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $66.67.

Insider Activity

In other news, CEO Bobak R. Azamian sold 6,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 818,106 shares in the company, valued at approximately $40,905,300. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate 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.