Tarsus Pharmaceuticals, Inc. $TARS Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its stake in Tarsus Pharmaceuticals by 15.1%, now holding approximately 0.28% of the company, valued at around $5.97 million.
• Several institutional investors, including Toronto Dominion Bank and Millennium Management LLC, have increased their positions in Tarsus Pharmaceuticals, indicating growing interest from hedge funds.
• Analysts have mixed ratings on Tarsus Pharmaceuticals, with prices targets ranging from $51.00 to $84.00, while the company recently reported a loss of ($0.48) EPS for the quarter, missing consensus estimates.

Wellington Management Group LLP cut its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 15.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,110 shares of the company's stock after selling 20,685 shares during the period. Wellington Management Group LLP owned 0.28% of Tarsus Pharmaceuticals worth $5,965,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new position in Tarsus Pharmaceuticals in the fourth quarter valued at approximately $44,000. Amalgamated Bank lifted its stake in Tarsus Pharmaceuticals by 30.1% during the first quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after purchasing an additional 295 shares in the last quarter. Bayesian Capital Management LP acquired a new position in Tarsus Pharmaceuticals during the fourth quarter worth $228,000. Corton Capital Inc. acquired a new position in Tarsus Pharmaceuticals during the fourth quarter worth $261,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter worth $268,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief executive officer owned 818,106 shares in the company, valued at approximately $40,905,300. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TARS. Oppenheimer began coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price objective on the stock. Wall Street Zen lowered Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group upped their price objective on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Finally, HC Wainwright raised Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective on the stock in a research report on Tuesday, May 27th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $66.67.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock traded up $0.42 during mid-day trading on Friday, hitting $58.58. 374,275 shares of the stock were exchanged, compared to its average volume of 663,854. Tarsus Pharmaceuticals, Inc. has a 12-month low of $25.82 and a 12-month high of $58.95. The stock's fifty day simple moving average is $45.57 and its two-hundred day simple moving average is $45.99. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.15). Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%.The business had revenue of $102.66 million for the quarter, compared to analyst estimates of $95.81 million. On average, research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Tarsus Pharmaceuticals Company 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.