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 trimmed its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 18.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Several other hedge funds have also modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in shares of Tarsus Pharmaceuticals in the first quarter valued at $823,000. Northern Trust Corp grew its holdings in shares of Tarsus Pharmaceuticals by 1.6% during the first quarter. Northern Trust Corp now owns 363,432 shares of the company's stock worth $18,670,000 after purchasing an additional 5,816 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Tarsus Pharmaceuticals by 4.0% during the first quarter. Lord Abbett & CO. LLC now owns 1,331,701 shares of the company's stock worth $68,409,000 after purchasing an additional 51,714 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Tarsus Pharmaceuticals by 6,112.1% during the first quarter. Russell Investments Group Ltd. now owns 134,617 shares of the company's stock worth $6,915,000 after purchasing an additional 132,450 shares during the last quarter. Finally, Nuveen LLC purchased a new position in shares of Tarsus Pharmaceuticals during the first quarter worth about $13,589,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer owned 818,106 shares in the company, valued at approximately $40,905,300. This represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.97% of the company's stock.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock opened at $55.41 on Thursday. The firm has a market cap of $2.34 billion, a PE ratio of -23.78 and a beta of 0.79. The firm's 50-day simple moving average is $43.20 and its 200-day simple moving average is $45.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26. Tarsus Pharmaceuticals, Inc. has a 1 year low of $25.14 and a 1 year high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings data 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). Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%.The business had revenue of $102.66 million for the quarter, compared to analyst estimates of $95.81 million. Equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group raised their price target 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 downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Guggenheim upped their target price on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target for the company in a research report on Tuesday, May 27th. Finally, Oppenheimer initiated coverage on Tarsus Pharmaceuticals in a report on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $66.67.

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.

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