Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Sold by Vivo Capital LLC

Vivo Capital LLC trimmed its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 68.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 565,550 shares of the company's stock after selling 1,218,456 shares during the period. Tarsus Pharmaceuticals accounts for approximately 1.6% of Vivo Capital LLC's holdings, making the stock its 16th largest holding. Vivo Capital LLC owned approximately 1.65% of Tarsus Pharmaceuticals worth $20,558,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its holdings 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 worth $78,000 after purchasing an additional 3,004 shares during the period. Tower Research Capital LLC TRC raised its holdings in Tarsus Pharmaceuticals by 22.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,560 shares of the company's stock valued at $92,000 after buying an additional 824 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Tarsus Pharmaceuticals by 65.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,306 shares of the company's stock valued at $94,000 after buying an additional 2,092 shares in the last quarter. Raymond James & Associates acquired a new position in shares of Tarsus Pharmaceuticals during the 3rd quarter valued at $180,000. Finally, Ieq Capital LLC acquired a new position in Tarsus Pharmaceuticals during the 3rd quarter worth approximately $193,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ:TARS traded down $0.17 during trading hours on Friday, hitting $32.04. The stock had a trading volume of 381,058 shares, compared to its average volume of 499,759. The stock's fifty day simple moving average is $34.02 and its 200 day simple moving average is $24.91. Tarsus Pharmaceuticals, Inc. has a 1-year low of $12.57 and a 1-year high of $40.40. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -6.91 and a beta of 1.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.85 and a current ratio of 6.93.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($1.31) earnings per share for the quarter, beating analysts' consensus estimates of ($1.37) by $0.06. The company had revenue of $13.08 million during the quarter, compared to the consensus estimate of $4.63 million. During the same quarter last year, the company earned ($0.49) earnings per share. Sell-side analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -4.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on TARS shares. Barclays boosted their target price on shares of Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 28th. Oppenheimer restated 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. HC Wainwright lifted their price objective on Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. The Goldman Sachs Group increased their target price on Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the company a "neutral" rating in a research note on Thursday, February 29th. Finally, Jefferies Financial Group lifted their price target on shares of Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the stock a "buy" rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $48.38.

Insider Activity

In other news, COO Seshadri Neervannan sold 4,879 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $30.60, for a total transaction of $149,297.40. Following the completion of the sale, the chief operating officer now owns 64,767 shares in the company, valued at approximately $1,981,870.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Seshadri Neervannan sold 4,879 shares of Tarsus Pharmaceuticals 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 completion of the sale, the chief operating officer now directly owns 64,767 shares of the company's stock, valued at $1,981,870.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Aziz Mottiwala sold 4,766 shares of the company'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 $145,839.60. Following the completion of the sale, the insider now directly owns 54,075 shares of the company's stock, valued at $1,654,695. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,496 shares of company stock valued at $749,578. Company insiders own 11.54% of the company's stock.

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.

Want to see what other hedge funds are holding TARS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.