Walleye Capital LLC Reduces Holdings in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Walleye Capital LLC cut its Tarsus Pharmaceuticals stake by 62.3% in the first quarter, leaving it with 15,184 shares worth about $1.07 million after selling 25,089 shares.
• Several other institutional investors still hold large positions in Tarsus, and overall hedge funds and institutions own 90.01% of the company’s stock.
• Insider activity was also notable: executives and directors sold shares recently, while analysts remain mixed but lean positive, with a Moderate Buy consensus and a $90.50 average price target.

Walleye Capital LLC reduced its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 62.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,184 shares of the company's stock after selling 25,089 shares during the period. Walleye Capital LLC's holdings in Tarsus Pharmaceuticals were worth $1,065,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TARS. RTW Investments LP grew its holdings in Tarsus Pharmaceuticals by 5.0% during the 4th quarter. RTW Investments LP now owns 3,335,320 shares of the company's stock valued at $273,096,000 after buying an additional 157,884 shares during the last quarter. Deep Track Capital LP raised its holdings in shares of Tarsus Pharmaceuticals by 71.4% in the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company's stock worth $178,290,000 after acquiring an additional 1,250,000 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Tarsus Pharmaceuticals by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company's stock valued at $196,476,000 after acquiring an additional 127,470 shares in the last quarter. Morgan Stanley lifted its position in shares of Tarsus Pharmaceuticals by 6.7% in the fourth quarter. Morgan Stanley now owns 2,040,742 shares of the company's stock valued at $167,096,000 after acquiring an additional 128,340 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of Tarsus Pharmaceuticals by 34.1% in the fourth quarter. Janus Henderson Group PLC now owns 1,930,325 shares of the company's stock valued at $158,062,000 after acquiring an additional 491,326 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Insider Activity at Tarsus Pharmaceuticals

In other news, insider Jeffrey S. Farrow sold 14,396 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total transaction of $877,436.20. Following the transaction, the insider directly owned 56,801 shares in the company, valued at $3,462,020.95. This represents a 20.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katherine Goodrich sold 2,954 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the completion of the sale, the director directly owned 2,233 shares in the company, valued at $138,624.64. This represents a 56.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 39,850 shares of company stock worth $2,452,821. 9.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TARS has been the subject of a number of recent research reports. HC Wainwright reiterated a "buy" rating and set a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Weiss Ratings restated a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Guggenheim decreased their price target on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a "buy" rating on the stock in a research note on Tuesday. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an "outperform" rating and a $98.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Tarsus Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $90.50.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ:TARS opened at $58.66 on Friday. The company has a market cap of $2.52 billion, a P/E ratio of -51.46 and a beta of 0.50. The company has a quick ratio of 3.71, a current ratio of 3.74 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals, Inc. has a 52 week low of $38.51 and a 52 week high of $85.25. The business has a fifty day simple moving average of $61.54 and a 200-day simple moving average of $66.01.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%.The firm had revenue of $162.05 million for the quarter, compared to the consensus estimate of $149.60 million. Equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -1.04 EPS for the current year.

About Tarsus Pharmaceuticals

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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