TFG Asset Management GP Ltd Cuts Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

TFG Asset Management GP Ltd reduced its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 67.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 200,000 shares of the company's stock after selling 414,117 shares during the quarter. Tarsus Pharmaceuticals comprises about 2.7% of TFG Asset Management GP Ltd's portfolio, making the stock its 11th biggest position. TFG Asset Management GP Ltd owned approximately 0.52% of Tarsus Pharmaceuticals worth $11,074,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. bought a new position in shares of Tarsus Pharmaceuticals in the 4th quarter worth $25,000. R Squared Ltd bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter valued at $53,000. Quarry LP bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter valued at $166,000. HighTower Advisors LLC acquired a new position in shares of Tarsus Pharmaceuticals during the fourth quarter valued at about $207,000. Finally, Summit Investment Advisors Inc. increased its position in shares of Tarsus Pharmaceuticals by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company's stock worth $213,000 after acquiring an additional 244 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company's stock.

Insider Activity

In related news, insider Dianne C. Whitfield sold 2,315 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $107,161.35. Following the completion of the transaction, the insider now directly owns 50,751 shares of the company's stock, valued at approximately $2,349,263.79. This trade represents a 4.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bobak R. Azamian sold 7,131 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $330,093.99. Following the completion of the transaction, the chief executive officer now owns 70,720 shares of the company's stock, valued at $3,273,628.80. This represents a 9.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,542 shares of company stock valued at $1,581,173 over the last quarter. Company insiders own 8.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their price target on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. HC Wainwright reaffirmed a "buy" rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Barclays lowered their price target on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group increased their price target on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Finally, Guggenheim boosted their target price on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $66.33.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock traded down $0.02 on Friday, hitting $42.95. 86,193 shares of the stock were exchanged, compared to its average volume of 697,555. The firm's 50 day moving average is $47.79 and its two-hundred day moving average is $49.12. Tarsus Pharmaceuticals, Inc. has a one year low of $20.08 and a one year high of $57.28. The firm has a market capitalization of $1.80 billion, a PE ratio of -11.25 and a beta of 0.94. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.05. The business had revenue of $78.34 million for the quarter, compared to the consensus estimate of $72.50 million. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. Sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

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.