Two Sigma Investments LP Sells 204,832 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Two Sigma Investments LP reduced its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 69.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,171 shares of the company's stock after selling 204,832 shares during the quarter. Two Sigma Investments LP owned about 0.24% of Tarsus Pharmaceuticals worth $5,048,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in Tarsus Pharmaceuticals by 14.8% during the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company's stock worth $138,432,000 after buying an additional 321,552 shares during the period. Barclays PLC raised its stake in Tarsus Pharmaceuticals by 345.9% during the 3rd quarter. Barclays PLC now owns 98,663 shares of the company's stock worth $3,246,000 after buying an additional 76,538 shares during the period. Northern Trust Corp raised its stake in Tarsus Pharmaceuticals by 12.6% during the 4th quarter. Northern Trust Corp now owns 357,616 shares of the company's stock worth $19,801,000 after buying an additional 40,061 shares during the period. Raymond James Financial Inc. acquired a new position in Tarsus Pharmaceuticals during the 4th quarter worth approximately $1,107,000. Finally, Bleakley Financial Group LLC acquired a new position in Tarsus Pharmaceuticals during the 4th quarter worth approximately $323,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 7,131 shares of the stock in a transaction on Tuesday, March 18th. The stock was 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 directly owns 70,720 shares of the company's stock, valued at approximately $3,273,628.80. This represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Bryan Wahl sold 3,084 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total value of $154,539.24. Following the transaction, the general counsel now directly owns 51,712 shares of the company's stock, valued at approximately $2,591,288.32. This trade represents a 5.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,542 shares of company stock valued at $1,581,173 over the last three months. Corporate insiders own 8.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TARS. Jefferies Financial Group upped their price target on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. The Goldman Sachs Group increased their price objective on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective for the company in a research note on Tuesday. Guggenheim increased their price objective on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen downgraded Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $66.17.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock traded down $0.50 during trading on Friday, hitting $42.94. The company's stock had a trading volume of 428,338 shares, compared to its average volume of 703,683. The company has a market cap of $1.80 billion, a PE ratio of -11.27 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. The business has a fifty day moving average of $46.93 and a 200-day moving average of $48.92. Tarsus Pharmaceuticals, Inc. has a 52 week low of $20.08 and a 52 week high of $57.28.

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

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.