Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Sold by TFG Asset Management GP Ltd

TFG Asset Management GP Ltd trimmed its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 67.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the company's stock after selling 414,117 shares during the quarter. Tarsus Pharmaceuticals accounts for about 2.4% of TFG Asset Management GP Ltd's portfolio, making the stock its 15th largest position. TFG Asset Management GP Ltd owned approximately 0.52% of Tarsus Pharmaceuticals worth $11,074,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TARS. Jennison Associates LLC grew its holdings in Tarsus Pharmaceuticals by 14.8% during the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company's stock worth $138,432,000 after acquiring an additional 321,552 shares during the period. Barclays PLC grew its holdings in Tarsus Pharmaceuticals by 345.9% during the third quarter. Barclays PLC now owns 98,663 shares of the company's stock worth $3,246,000 after acquiring an additional 76,538 shares during the period. Northern Trust Corp grew its holdings in Tarsus Pharmaceuticals by 12.6% during the fourth quarter. Northern Trust Corp now owns 357,616 shares of the company's stock worth $19,801,000 after acquiring an additional 40,061 shares during the period. Raymond James Financial Inc. acquired a new stake in Tarsus Pharmaceuticals during the fourth quarter worth about $1,107,000. Finally, Bleakley Financial Group LLC acquired a new stake in Tarsus Pharmaceuticals during the fourth quarter worth about $323,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Dianne C. Whitfield sold 2,137 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total transaction of $107,085.07. Following the transaction, the insider now owns 46,355 shares in the company, valued at approximately $2,322,849.05. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Bryan Wahl sold 3,084 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $154,539.24. Following the transaction, the general counsel now owns 51,712 shares in the company, valued at approximately $2,591,288.32. The trade was a 5.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,542 shares of company stock worth $1,581,173 over the last quarter. 8.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group raised their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. The Goldman Sachs Group raised their target price on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Barclays lowered their price target on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Wall Street Zen downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, HC Wainwright upgraded Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target on the stock in a research report on Tuesday. Two 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $66.17.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS traded down $0.61 during midday trading on Friday, hitting $42.83. The stock had a trading volume of 137,750 shares, compared to its average volume of 700,884. The company has a market capitalization of $1.80 billion, a PE ratio of -11.25 and a beta of 0.94. The stock has a 50 day simple moving average of $47.10 and a 200-day simple moving average of $48.96. Tarsus Pharmaceuticals, Inc. has a 1 year low of $20.08 and a 1 year high of $57.28. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share 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 return on equity of 55.86% and a negative net margin of 103.64%. On average, sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS 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.