Allspring Global Investments Holdings LLC Sells 58,558 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Allspring Global Investments Holdings LLC lessened its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 23.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 187,414 shares of the company's stock after selling 58,558 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.57% of Tarsus Pharmaceuticals worth $3,795,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of TARS. Royal Bank of Canada lifted its position in shares of Tarsus Pharmaceuticals by 122.0% during the 2nd quarter. Royal Bank of Canada now owns 2,817 shares of the company's stock valued at $50,000 after acquiring an additional 1,548 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Tarsus Pharmaceuticals by 310.1% during the third quarter. Tower Research Capital LLC TRC now owns 3,736 shares of the company's stock valued at $66,000 after purchasing an additional 2,825 shares during the last quarter. UBS Group AG lifted its holdings in shares of Tarsus Pharmaceuticals by 37.0% during the first quarter. UBS Group AG now owns 4,226 shares of the company's stock valued at $71,000 after purchasing an additional 1,142 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Tarsus Pharmaceuticals by 362.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,832 shares of the company's stock valued at $78,000 after purchasing an additional 3,004 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Tarsus Pharmaceuticals by 65.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,306 shares of the company's stock worth $94,000 after purchasing an additional 2,092 shares in the last quarter. Institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Stock Down 1.2 %

Shares of NASDAQ:TARS traded down $0.41 during midday trading on Friday, hitting $32.44. 657,454 shares of the stock were exchanged, compared to its average volume of 538,700. The company has a market capitalization of $1.11 billion, a PE ratio of -6.99 and a beta of 1.05. Tarsus Pharmaceuticals, Inc. has a 52-week low of $12.57 and a 52-week high of $40.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.85 and a current ratio of 6.93. The business's fifty day simple moving average is $33.83 and its two-hundred day simple moving average is $24.37.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Tuesday, February 27th. The company reported ($1.31) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.06. The firm had revenue of $13.08 million during the quarter, compared to analyst estimates of $4.63 million. During the same period in the previous year, the company earned ($0.49) earnings per share. As a group, research analysts predict that Tarsus Pharmaceuticals, Inc. will post -4.25 earnings per share for the current fiscal year.

Insider Activity at Tarsus Pharmaceuticals

In related news, CEO Bobak R. Azamian sold 10,415 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $318,699.00. Following the completion of the sale, the chief executive officer now owns 26,456 shares of the company's stock, valued at approximately $809,553.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Seshadri Neervannan sold 4,879 shares of the firm's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $149,297.40. Following the sale, the chief operating officer now owns 64,767 shares of the company's stock, valued at approximately $1,981,870.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Bobak R. Azamian sold 10,415 shares of the business's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $318,699.00. Following the completion of the transaction, the chief executive officer now directly owns 26,456 shares of the company's stock, valued at $809,553.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,496 shares of company stock valued at $749,578. 11.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group upped their price objective on shares of Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, February 29th. Lifesci Capital reaffirmed an "outperform" rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday, December 26th. Oppenheimer reissued an "outperform" rating and set a $59.00 target price (up from $55.00) on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 28th. Jefferies Financial Group increased their target price on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Finally, Barclays lifted their price target on Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.38.

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.