Lord Abbett & CO. LLC Increases Stock Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Lord Abbett & CO. LLC lifted its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 115.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,279,987 shares of the company's stock after purchasing an additional 685,111 shares during the period. Lord Abbett & CO. LLC owned 3.35% of Tarsus Pharmaceuticals worth $70,873,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Voya Investment Management LLC lifted its stake in shares of Tarsus Pharmaceuticals by 149.6% during the fourth quarter. Voya Investment Management LLC now owns 30,033 shares of the company's stock valued at $1,663,000 after acquiring an additional 18,000 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Tarsus Pharmaceuticals by 92.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 460,773 shares of the company's stock valued at $25,514,000 after purchasing an additional 221,458 shares during the last quarter. Silverarc Capital Management LLC grew its position in shares of Tarsus Pharmaceuticals by 64.9% during the 4th quarter. Silverarc Capital Management LLC now owns 65,955 shares of the company's stock worth $3,652,000 after buying an additional 25,955 shares during the period. Diadema Partners LP acquired a new position in Tarsus Pharmaceuticals in the fourth quarter valued at approximately $3,322,000. Finally, Rock Springs Capital Management LP bought a new position in Tarsus Pharmaceuticals in the fourth quarter valued at approximately $6,140,000. Institutional investors own 90.01% of the company's stock.

Insiders Place Their Bets

In related news, insider Dianne C. Whitfield sold 2,315 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total value of $107,161.35. Following the completion of the sale, the insider now owns 50,751 shares of the company's stock, valued at $2,349,263.79. This trade represents a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Bryan Wahl sold 3,341 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $154,654.89. Following the transaction, the general counsel now directly owns 58,057 shares in the company, valued at approximately $2,687,458.53. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,542 shares of company stock valued at $1,581,173 over the last quarter. 8.25% of the stock is owned by corporate insiders.

Tarsus Pharmaceuticals Stock Down 2.3 %

Shares of NASDAQ:TARS traded down $1.21 during midday trading on Thursday, hitting $50.71. 303,576 shares of the company's stock were exchanged, compared to its average volume of 692,194. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The company has a market cap of $1.95 billion, a PE ratio of -13.24 and a beta of 0.94. Tarsus Pharmaceuticals, Inc. has a 12 month low of $20.08 and a 12 month high of $57.28. The stock has a 50 day moving average price of $47.73 and a 200-day moving average price of $48.57.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The firm had revenue of $66.41 million during the quarter, compared to the consensus estimate of $58.80 million. On average, sell-side analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Analysts Set New Price Targets

TARS has been the subject of several analyst reports. Guggenheim restated a "buy" rating and set a $78.00 target price (up from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. HC Wainwright reissued a "buy" rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Oppenheimer increased their target price on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, January 22nd. Jefferies Financial Group upped their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, Barclays decreased their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $63.67.

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.