Tarsus Pharmaceuticals, Inc. $TARS Stake Raised by TimesSquare Capital Management LLC

Key Points

• TimesSquare Capital Management increased its stake in Tarsus Pharmaceuticals by 24.3% in the fourth quarter, bringing its holdings to 332,446 shares worth about $27.2 million.
• Insiders sold shares recently, including General Counsel Bryan Wahl and insider Dianne C. Whitfield, with total insider sales over the last 90 days reaching 79,391 shares worth about $5.43 million.
• Tarsus beat quarterly expectations, reporting a smaller-than-expected loss of $0.16 per share and revenue of $162.05 million, while analysts currently rate the stock a Moderate Buy with an average target price of $90.67.

TimesSquare Capital Management LLC grew its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 332,446 shares of the company's stock after buying an additional 64,941 shares during the period. TimesSquare Capital Management LLC owned 0.78% of Tarsus Pharmaceuticals worth $27,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Comerica Bank raised its holdings in shares of Tarsus Pharmaceuticals by 470.0% during the fourth quarter. Comerica Bank now owns 855 shares of the company's stock valued at $70,000 after buying an additional 705 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Tarsus Pharmaceuticals by 779.1% during the second quarter. Osaic Holdings Inc. now owns 2,778 shares of the company's stock valued at $113,000 after acquiring an additional 2,462 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Tarsus Pharmaceuticals by 220.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company's stock valued at $164,000 after acquiring an additional 2,782 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Tarsus Pharmaceuticals by 26.4% during the fourth 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 during the period. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Tarsus Pharmaceuticals during the third quarter valued at approximately $209,000. Institutional investors own 90.01% of the company's stock.

Insider Activity

In related news, General Counsel Bryan Wahl sold 4,231 shares of the firm'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 $283,477.00. Following the completion of the transaction, the general counsel owned 63,959 shares of the company's stock, valued at approximately $4,285,253. This trade represents a 6.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dianne C. Whitfield sold 4,174 shares of the firm'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 transaction of $279,658.00. Following the completion of the transaction, the insider directly owned 35,028 shares of the company's stock, valued at $2,346,876. This represents a 10.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 79,391 shares of company stock worth $5,432,035. Company insiders own 9.64% of the company's stock.

Tarsus Pharmaceuticals Trading Up 0.5%

Tarsus Pharmaceuticals stock opened at $62.82 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of -55.11 and a beta of 0.52. Tarsus Pharmaceuticals, Inc. has a 1 year low of $38.51 and a 1 year high of $85.25. The firm's 50 day moving average price is $66.85 and its two-hundred day moving average price is $71.55.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.24. The firm had revenue of $162.05 million for the quarter, compared to analyst estimates of $149.60 million. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. On average, research analysts predict that Tarsus Pharmaceuticals, Inc. will post -0.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TARS. Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a research note on Friday, April 24th. They set an "outperform" rating and a $98.00 price objective on the stock. Guggenheim raised their price objective on shares of Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, February 25th. Zacks Research lowered shares of Tarsus Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 25th. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Finally, HC Wainwright reiterated a "buy" rating and set a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $90.67.

Tarsus Pharmaceuticals Profile

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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