Frazier Life Sciences Management L.P. Decreases Stock Position in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Frazier Life Sciences Management L.P. reduced its stake in Tarsus Pharmaceuticals by 12%, owning 1,397,527 shares after selling 190,000 shares, making it the 8th largest holding in their portfolio.
• Tarsus Pharmaceuticals reported a quarterly EPS of ($0.48), missing estimates, despite revenue exceeding expectations at $102.66 million for the quarter.
• The stock received mixed ratings from analysts, with five giving it a "Buy" rating and one a "Hold," while the average target price is set at $66.67.

Frazier Life Sciences Management L.P. lessened its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,397,527 shares of the company's stock after selling 190,000 shares during the quarter. Tarsus Pharmaceuticals makes up 3.3% of Frazier Life Sciences Management L.P.'s holdings, making the stock its 8th biggest position. Frazier Life Sciences Management L.P. owned about 3.33% of Tarsus Pharmaceuticals worth $71,791,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Amalgamated Bank boosted its holdings in shares of Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock valued at $65,000 after buying an additional 295 shares during the last quarter. Northern Trust Corp lifted its holdings in Tarsus Pharmaceuticals by 12.6% during the 4th quarter. Northern Trust Corp now owns 357,616 shares of the company's stock valued at $19,801,000 after purchasing an additional 40,061 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Tarsus Pharmaceuticals by 36,430.6% during the 1st quarter. GAMMA Investing LLC now owns 13,151 shares of the company's stock valued at $676,000 after purchasing an additional 13,115 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Tarsus Pharmaceuticals by 21.2% during the 4th quarter. Ameriprise Financial Inc. now owns 47,685 shares of the company's stock valued at $2,640,000 after purchasing an additional 8,336 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Tarsus Pharmaceuticals by 4.3% during the 1st quarter. Rhumbline Advisers now owns 51,682 shares of the company's stock valued at $2,655,000 after purchasing an additional 2,148 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Activity at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 6,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was 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 approximately $40,905,300. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.97% of the company's stock.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS traded down $0.29 during mid-day trading on Thursday, reaching $57.43. The company had a trading volume of 686,348 shares, compared to its average volume of 667,733. 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 one year low of $27.17 and a one year high of $59.76. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of -24.65 and a beta of 0.81. The business's 50-day simple moving average is $46.96 and its 200 day simple moving average is $46.22.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.48) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $102.66 million during the quarter, compared to the consensus estimate of $95.81 million. On average, research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target for the company in a report on Tuesday, May 27th. Wall Street Zen downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Tarsus Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target 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.