Tarsus Pharmaceuticals, Inc. $TARS Shares Sold by Woodline Partners LP

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 trimmed its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 8.1% in the first quarter, according to its most recent filing 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 0.24% of Tarsus Pharmaceuticals worth $5,145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in Tarsus Pharmaceuticals by 30.1% during the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock valued at $65,000 after acquiring an additional 295 shares during the period. GAMMA Investing LLC boosted its holdings in Tarsus Pharmaceuticals by 36,430.6% during the 1st quarter. GAMMA Investing LLC now owns 13,151 shares of the company's stock valued at $676,000 after acquiring an additional 13,115 shares during the period. Ameriprise Financial Inc. boosted 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 valued at $2,640,000 after buying an additional 8,336 shares during the period. Rhumbline Advisers boosted its stake in shares of Tarsus Pharmaceuticals by 4.3% in the 1st quarter. Rhumbline Advisers now owns 51,682 shares of the company's stock valued at $2,655,000 after buying an additional 2,148 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Tarsus Pharmaceuticals in the 1st quarter valued at about $26,199,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TARS. Zacks Research upgraded Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Friday, September 5th. Wall Street Zen cut Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. HC Wainwright upgraded Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price objective for the company in a research note on Tuesday, May 27th. Finally, Oppenheimer began coverage on Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price objective for the company. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $66.67.

Insider Activity at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction that occurred 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 transaction, the chief executive officer owned 818,106 shares of the company's stock, valued at $40,905,300. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $1,545,612.00. Following the transaction, the director directly owned 143,332 shares in the company, valued at approximately $8,169,924. This trade represents a 15.91% decrease in their position. The disclosure for this sale can be found here. Insiders own 8.97% of the company's stock.

Tarsus Pharmaceuticals Stock Up 3.6%

TARS stock traded up $1.86 during trading on Thursday, hitting $53.55. 170,808 shares of the company's stock were exchanged, compared to its average volume of 665,970. The business has a 50-day moving average price of $49.24 and a two-hundred day moving average price of $46.67. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -22.98 and a beta of 0.81. Tarsus Pharmaceuticals, Inc. has a 52-week low of $31.36 and a 52-week high of $59.76. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last posted 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). The business had revenue of $102.66 million for the quarter, compared to analysts' expectations of $95.81 million. Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%. As a group, equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current 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.