Tarsus Pharmaceuticals, Inc. $TARS Shares Sold by Sands Capital Alternatives LLC

Key Points

• Sands Capital Alternatives LLC cut its Tarsus Pharmaceuticals stake by 50% in the fourth quarter, selling 85,000 shares and leaving it with 85,000 shares worth about $6.96 million.
• Tarsus reported quarterly earnings of -$0.16 EPS, beating analyst expectations, and revenue of $162.05 million, which also topped estimates.
• Analysts remain broadly positive on the stock, with a Moderate Buy consensus and an average price target of $90.67, while insiders have also sold shares recently.

Sands Capital Alternatives LLC cut its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 50.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 85,000 shares of the company's stock after selling 85,000 shares during the quarter. Tarsus Pharmaceuticals comprises approximately 1.3% of Sands Capital Alternatives LLC's investment portfolio, making the stock its 15th biggest position. Sands Capital Alternatives LLC owned about 0.20% of Tarsus Pharmaceuticals worth $6,960,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Comerica Bank increased its position in shares of Tarsus Pharmaceuticals by 470.0% during the 4th quarter. Comerica Bank now owns 855 shares of the company's stock worth $70,000 after purchasing an additional 705 shares during the last quarter. Leonteq Securities AG acquired a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter worth about $164,000. Mirae Asset Global Investments Co. Ltd. grew its position in Tarsus Pharmaceuticals by 26.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,063 shares of the company's stock valued at $169,000 after acquiring an additional 431 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in Tarsus Pharmaceuticals in the 4th quarter valued at about $205,000. Finally, Cibc World Markets Corp acquired a new position in Tarsus Pharmaceuticals in the 4th quarter valued at about $212,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS opened at $61.95 on Monday. The stock has a 50 day moving average price of $63.97 and a 200 day moving average price of $69.93. The company has a quick ratio of 3.71, a current ratio of 3.74 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -54.34 and a beta of 0.49. Tarsus Pharmaceuticals, Inc. has a 52-week low of $38.51 and a 52-week high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%.The firm had revenue of $162.05 million during the quarter, compared to the consensus estimate of $149.60 million. Research analysts predict that Tarsus Pharmaceuticals, Inc. will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, General Counsel Bryan Wahl sold 4,231 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total value of $283,477.00. Following the completion of the sale, the general counsel owned 63,959 shares in the company, valued at approximately $4,285,253. The trade was a 6.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Bobak R. Azamian sold 11,964 shares of the business's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $67.00, for a total value of $801,588.00. Following the completion of the sale, the chief executive officer owned 33,421 shares of the company's stock, valued at approximately $2,239,207. This represents a 26.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 66,891 shares of company stock valued at $4,572,160 in the last 90 days. Company insiders own 9.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TARS. Oppenheimer began coverage on Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an "outperform" rating and a $98.00 target price for the company. Lifesci Capital raised Tarsus Pharmaceuticals to a "strong-buy" rating in a research report on Monday, March 16th. Wall Street Zen raised Tarsus Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Guggenheim lifted their target price on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.67.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company's research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus's lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.

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