Vivo Capital LLC Cuts Stock Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Vivo Capital LLC reduced its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,784,006 shares of the company's stock after selling 478,194 shares during the quarter. Tarsus Pharmaceuticals makes up about 3.0% of Vivo Capital LLC's investment portfolio, making the stock its 10th largest holding. Vivo Capital LLC owned approximately 5.39% of Tarsus Pharmaceuticals worth $36,126,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James & Associates acquired a new position in shares of Tarsus Pharmaceuticals in the third quarter valued at about $180,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Tarsus Pharmaceuticals by 81.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 30,657 shares of the company's stock valued at $545,000 after acquiring an additional 13,801 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Tarsus Pharmaceuticals by 65.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,306 shares of the company's stock valued at $94,000 after purchasing an additional 2,092 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Tarsus Pharmaceuticals in the 3rd quarter worth about $198,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Tarsus Pharmaceuticals by 2,784.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 245,972 shares of the company's stock worth $4,371,000 after purchasing an additional 237,445 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TARS has been the subject of a number of recent analyst reports. HC Wainwright raised their price target on shares of Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the stock a "buy" rating in a report on Wednesday, February 28th. Barclays lifted their target price on Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 28th. Oppenheimer boosted their target price on Tarsus Pharmaceuticals from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday. The Goldman Sachs Group increased their price target on Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a "neutral" rating in a report on Thursday, February 29th. Finally, Jefferies Financial Group boosted their price objective on shares of Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, March 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.63.

Tarsus Pharmaceuticals Trading Down 8.9 %

TARS traded down $3.31 during trading on Thursday, hitting $34.04. 1,670,545 shares of the company's stock were exchanged, compared to its average volume of 723,356. The stock has a 50 day moving average price of $34.32 and a 200 day moving average price of $26.09. The company has a current ratio of 6.93, a quick ratio of 6.85 and a debt-to-equity ratio of 0.15. Tarsus Pharmaceuticals, Inc. has a 1 year low of $12.57 and a 1 year high of $42.50. The firm has a market cap of $1.29 billion, a P/E ratio of -7.79 and a beta of 1.10.

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

Insiders Place Their Bets

In related news, General Counsel Bryan Wahl sold 4,436 shares of the business's stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $135,741.60. Following the completion of the transaction, the general counsel now owns 40,951 shares in the company, valued at approximately $1,253,100.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Bobak R. Azamian sold 10,415 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $318,699.00. Following the completion of the sale, the chief executive officer now directly owns 26,456 shares in the company, valued at approximately $809,553.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Bryan Wahl sold 4,436 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $30.60, for a total value of $135,741.60. Following the sale, the general counsel now owns 40,951 shares of the company's stock, valued at approximately $1,253,100.60. The disclosure for this sale can be found here. Insiders have sold a total of 24,496 shares of company stock valued at $749,578 in the last quarter. 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.