Aberdeen Group plc Sells 41,781 Shares of Tarsus Pharmaceuticals, Inc. $TARS

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC lifted its stake in Tarsus Pharmaceuticals by 4.0% in the first quarter. Lord Abbett & CO. LLC now owns 1,331,701 shares of the company's stock worth $68,409,000 after acquiring an additional 51,714 shares during the period. Russell Investments Group Ltd. lifted its stake in Tarsus Pharmaceuticals by 6,112.1% in the first quarter. Russell Investments Group Ltd. now owns 134,617 shares of the company's stock worth $6,915,000 after acquiring an additional 132,450 shares during the period. Nuveen LLC purchased a new stake in Tarsus Pharmaceuticals in the first quarter worth $13,589,000. Aigen Investment Management LP lifted its stake in Tarsus Pharmaceuticals by 30.6% in the first quarter. Aigen Investment Management LP now owns 9,802 shares of the company's stock worth $504,000 after acquiring an additional 2,298 shares during the period. Finally, Swiss National Bank lifted its stake in Tarsus Pharmaceuticals by 6.1% in the first quarter. Swiss National Bank now owns 55,533 shares of the company's stock worth $2,853,000 after acquiring an additional 3,200 shares during the period. Hedge funds and other institutional investors own 90.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target for the company in a research note on Tuesday, May 27th. The Goldman Sachs Group raised 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. Oppenheimer began coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price objective for the company. Wall Street Zen lowered Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Guggenheim raised their price objective on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One research 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. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $66.67.

Insider Transactions at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the chief executive officer owned 818,106 shares in the company, valued at $40,905,300. The trade was a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.97% of the stock is currently owned by insiders.

Tarsus Pharmaceuticals Stock Down 1.8%

Tarsus Pharmaceuticals stock traded down $1.03 on Wednesday, hitting $57.82. 354,302 shares of the stock traded hands, compared to its average volume of 724,928. The business's fifty day simple moving average is $44.87 and its 200 day simple moving average is $45.94. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22. The firm has a market cap of $2.44 billion, a P/E ratio of -24.82 and a beta of 0.79. Tarsus Pharmaceuticals, Inc. has a 1 year low of $25.82 and a 1 year high of $58.95.

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

Tarsus Pharmaceuticals Company 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.