Tarsus Pharmaceuticals, Inc. $TARS Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its holdings in Tarsus Pharmaceuticals by 17.5%, owning 43,292 shares after selling 9,200 shares during the second quarter.
• Tarsus Pharmaceuticals reported a loss of ($0.48) earnings per share for the most recent quarter, missing the consensus estimate of ($0.33) by ($0.15).
• Insiders sold 39,116 shares of Tarsus stock worth $2,177,832 over the last three months, representing significant activity among company executives.

TD Asset Management Inc cut its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 17.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,292 shares of the company's stock after selling 9,200 shares during the quarter. TD Asset Management Inc owned about 0.10% of Tarsus Pharmaceuticals worth $1,754,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Amalgamated Bank boosted its holdings in 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 purchasing an additional 295 shares during the last quarter. Strs Ohio acquired a new position in Tarsus Pharmaceuticals in the 1st quarter valued at about $288,000. Adage Capital Partners GP L.L.C. acquired a new position in Tarsus Pharmaceuticals in the 1st quarter valued at about $26,199,000. Vanguard Group Inc. raised its stake in shares of Tarsus Pharmaceuticals by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company's stock valued at $114,380,000 after acquiring an additional 111,433 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Tarsus Pharmaceuticals by 999.5% in the 1st quarter. Victory Capital Management Inc. now owns 44,320 shares of the company's stock valued at $2,277,000 after acquiring an additional 40,289 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS opened at $70.82 on Wednesday. The company has a 50-day simple moving average of $59.54 and a 200-day simple moving average of $49.31. The company has a quick ratio of 5.21, a current ratio of 5.26 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $2.99 billion, a PE ratio of -30.39 and a beta of 0.81. Tarsus Pharmaceuticals, Inc. has a 52-week low of $36.07 and a 52-week high of $76.81.

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

Insider Activity at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 6,000 shares of the business's stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total transaction of $332,220.00. Following the transaction, the chief executive officer directly owned 812,106 shares of the company's stock, valued at approximately $44,966,309.22. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William J. Phd Link sold 27,116 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the completion of the sale, the director directly owned 143,332 shares in the company, valued at $8,169,924. This represents a 15.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,116 shares of company stock worth $2,177,832 over the last three months. Corporate insiders own 8.97% of the company's stock.

Wall Street Analyst Weigh In

TARS has been the topic of several recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a research note on Wednesday, October 8th. Zacks Research raised shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. Finally, HC Wainwright upped their target price on shares of Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the company a "neutral" rating in a report on Monday. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.33.

Tarsus Pharmaceuticals 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.

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