Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Acquired by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in Tarsus Pharmaceuticals by 999.5% during the first quarter, owning a total of 44,320 shares valued at approximately $2.277 million at the end of the quarter.
• Several hedge funds, including GAMMA Investing LLC and Amalgamated Bank, have also increased their holdings in Tarsus Pharmaceuticals, indicating a broader interest among institutional investors.
• Tarsus Pharmaceuticals reported a revenue of $78.34 million for the last quarter, surpassing analyst expectations, while its EPS was ($0.64), beating the consensus forecast of ($0.69).

Victory Capital Management Inc. boosted its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 999.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,320 shares of the company's stock after purchasing an additional 40,289 shares during the quarter. Victory Capital Management Inc. owned about 0.12% of Tarsus Pharmaceuticals worth $2,277,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank increased its stake in shares of Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after acquiring an additional 295 shares during the last quarter. Northern Trust Corp increased its stake in shares of Tarsus Pharmaceuticals by 12.6% in the 4th 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 last quarter. GAMMA Investing LLC increased its stake in shares of Tarsus Pharmaceuticals by 36,430.6% in the 1st quarter. GAMMA Investing LLC now owns 13,151 shares of the company's stock worth $676,000 after acquiring an additional 13,115 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth $1,107,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Tarsus Pharmaceuticals by 21.2% in the 4th quarter. Ameriprise Financial Inc. now owns 47,685 shares of the company's stock worth $2,640,000 after acquiring an additional 8,336 shares during the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Stock Up 4.5%

Shares of TARS traded up $1.73 during midday trading on Friday, hitting $40.55. The company had a trading volume of 262,228 shares, compared to its average volume of 649,146. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.54 and a current ratio of 5.57. Tarsus Pharmaceuticals, Inc. has a 1 year low of $20.08 and a 1 year high of $57.28. The firm has a market capitalization of $1.70 billion, a P/E ratio of -14.88 and a beta of 0.80. The company's 50-day simple moving average is $41.44 and its 200-day simple moving average is $45.82.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 39.72% and a negative net margin of 44.91%. The business had revenue of $78.34 million for the quarter, compared to analyst estimates of $72.50 million. As a group, sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on TARS. Guggenheim raised their target price on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Oppenheimer initiated coverage on Tarsus Pharmaceuticals in a report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price target for the company. HC Wainwright upgraded Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target for the company in a report on Tuesday, May 27th. Wall Street Zen cut Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group increased their price target on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $66.67.

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.