Woodline Partners LP Trims Stake in Tarsus Pharmaceuticals, Inc. $TARS

Key Points

• Woodline Partners LP reduced its stake in Tarsus Pharmaceuticals by 8.1% in Q1, now holding 100,149 shares worth approximately $5.1 million.
• CEO Bobak R. Azamian sold 6,000 shares for $300,000, decreasing his ownership by 0.73%, while Director William J. Phd Link sold 27,116 shares for over $1.5 million, reducing his stake by 15.91%.
• Tarsus Pharmaceuticals' shares opened at $49.36, showing a decline of 4.8%, and the company reported a revenue of $102.66 million for the last quarter, exceeding analyst expectations.

Woodline Partners LP lowered its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 8.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,149 shares of the company's stock after selling 8,837 shares during the quarter. Woodline Partners LP owned about 0.24% of Tarsus Pharmaceuticals worth $5,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Paradigm Biocapital Advisors LP raised its position in shares of Tarsus Pharmaceuticals by 3.1% in the 1st quarter. Paradigm Biocapital Advisors LP now owns 2,610,197 shares of the company's stock worth $134,086,000 after acquiring an additional 78,301 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tarsus Pharmaceuticals by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company's stock worth $114,380,000 after acquiring an additional 111,433 shares in the last quarter. Toronto Dominion Bank bought a new position in shares of Tarsus Pharmaceuticals in the 4th quarter worth approximately $105,714,000. Lord Abbett & CO. LLC raised its position in shares of Tarsus Pharmaceuticals by 4.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,331,701 shares of the company's stock worth $68,409,000 after acquiring an additional 51,714 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new position in shares of Tarsus Pharmaceuticals in the 1st quarter worth approximately $36,876,000. Institutional investors own 90.01% of the company's stock.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the sale, the chief executive officer directly owned 818,106 shares in the company, valued at approximately $40,905,300. This trade represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William J. Phd Link sold 27,116 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the completion of the sale, the director owned 143,332 shares of the company's stock, valued at $8,169,924. This represents a 15.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Zacks Research raised shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Friday, September 5th. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They set an "outperform" rating and a $75.00 price objective on the stock. Finally, HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective on the stock in a research note on Tuesday, May 27th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $66.67.

Tarsus Pharmaceuticals Stock Down 4.8%

Shares of Tarsus Pharmaceuticals stock opened at $49.36 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26. The stock has a market capitalization of $2.08 billion, a PE ratio of -21.18 and a beta of 0.81. Tarsus Pharmaceuticals, Inc. has a 52-week low of $30.23 and a 52-week high of $59.76. The company has a 50-day simple moving average of $48.63 and a two-hundred day simple moving average of $46.52.

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

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