Tarsus Pharmaceuticals, Inc. $TARS Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its holdings in Tarsus Pharmaceuticals by 11.3%, selling 105,592 shares during the first quarter, leaving it with 826,523 shares valued at approximately $42.5 million.
• Tarsus Pharmaceuticals reported a loss of ($0.48) EPS for the recent quarter, missing estimates, but achieved revenues of $102.66 million, surpassing expectations of $95.81 million.
• A majority of equity analysts have a buy or outperform rating for Tarsus Pharmaceuticals, with an average price target of $66.67 following several recent rating upgrades.

Invesco Ltd. lessened its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 11.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 826,523 shares of the company's stock after selling 105,592 shares during the quarter. Invesco Ltd. owned 1.97% of Tarsus Pharmaceuticals worth $42,458,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Paradigm Biocapital Advisors LP increased its position in Tarsus Pharmaceuticals by 3.7% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company's stock worth $140,191,000 after purchasing an additional 91,451 shares in the last quarter. Vanguard Group Inc. increased its position in Tarsus Pharmaceuticals by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company's stock worth $114,380,000 after purchasing an additional 111,433 shares in the last quarter. Toronto Dominion Bank acquired a new stake in Tarsus Pharmaceuticals during the 4th quarter worth approximately $105,714,000. Lord Abbett & CO. LLC increased its position in Tarsus Pharmaceuticals by 115.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company's stock worth $70,873,000 after purchasing an additional 685,111 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Tarsus Pharmaceuticals by 189.4% in the 4th quarter. Millennium Management LLC now owns 644,010 shares of the company's stock worth $35,659,000 after acquiring an additional 421,495 shares during the period. Institutional investors and hedge funds own 90.01% of the company's stock.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 6,000 shares of the 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 sale, the chief executive officer directly owned 818,106 shares of the company's stock, valued at $40,905,300. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.97% of the stock is owned by corporate insiders.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS opened at $54.61 on Tuesday. The business's fifty day moving average price is $42.66 and its 200 day moving average price is $45.71. Tarsus Pharmaceuticals, Inc. has a 12-month low of $25.14 and a 12-month high of $57.28. The stock has a market capitalization of $2.31 billion, a PE ratio of -23.44 and a beta of 0.79. 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 data on Wednesday, August 6th. The company reported ($0.48) earnings per share (EPS) 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 firm had revenue of $102.66 million for the quarter, compared to the consensus estimate of $95.81 million. Equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on TARS shares. Guggenheim upped their price target on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Oppenheimer started 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. HC Wainwright upgraded 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 cut Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group upped 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Tarsus Pharmaceuticals 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.

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