Tarsus Pharmaceuticals, Inc. $TARS Shares Sold by Atika Capital Management LLC

Key Points

• Atika Capital Management LLC reduced its position in Tarsus Pharmaceuticals by 18.5%, now owning 144,400 shares valued at approximately $7.4 million.
• Tarsus Pharmaceuticals reported a loss of $0.48 earnings per share for the latest quarter, missing analysts' estimates, but achieved revenue of $102.66 million, exceeding expectations.
• Analysts hold a generally positive outlook on Tarsus Pharmaceuticals, with an average rating of "Buy" and a consensus target price of $66.67.

Atika Capital Management LLC cut its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 18.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 144,400 shares of the company's stock after selling 32,800 shares during the period. Atika Capital Management LLC owned approximately 0.34% of Tarsus Pharmaceuticals worth $7,418,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TARS. GF Fund Management CO. LTD. acquired a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter valued at about $44,000. Amalgamated Bank grew its position in shares of Tarsus Pharmaceuticals by 30.1% during the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock valued at $65,000 after acquiring an additional 295 shares during the period. Quarry LP acquired a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter valued at about $166,000. Summit Investment Advisors Inc. grew its position in shares of Tarsus Pharmaceuticals by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company's stock valued at $213,000 after acquiring an additional 244 shares during the period. Finally, Bayesian Capital Management LP acquired a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter valued at about $228,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Oppenheimer started coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 target price on the stock. The Goldman Sachs Group lifted their price objective on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Wall Street Zen cut Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Guggenheim lifted their price objective on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, HC Wainwright upgraded Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective on the stock in a report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $66.67.

Tarsus Pharmaceuticals Price Performance

Shares of Tarsus Pharmaceuticals stock traded up $0.85 on Tuesday, hitting $57.46. 112,886 shares of the company were exchanged, compared to its average volume of 658,375. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -24.66 and a beta of 0.79. The company has a 50-day moving average price of $44.14 and a 200 day moving average price of $45.77. Tarsus Pharmaceuticals, Inc. has a 1-year low of $25.82 and a 1-year high of $57.90. The company has a quick ratio of 5.21, a current ratio of 5.26 and a debt-to-equity ratio of 0.22.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.15). The company had revenue of $102.66 million for the quarter, compared to analyst estimates 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 predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the sale, the chief executive officer owned 818,106 shares of the company's stock, valued at approximately $40,905,300. The trade was a 0.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.97% of the stock is currently owned by corporate insiders.

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.