Northern Trust Corp Increases Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Northern Trust Corp lifted its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 357,616 shares of the company's stock after purchasing an additional 40,061 shares during the period. Northern Trust Corp owned 0.94% of Tarsus Pharmaceuticals worth $19,801,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its stake in Tarsus Pharmaceuticals by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company's stock worth $213,000 after acquiring an additional 244 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in Tarsus Pharmaceuticals during the fourth quarter worth about $25,000. Bank of New York Mellon Corp boosted its stake in Tarsus Pharmaceuticals by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 101,928 shares of the company's stock worth $5,644,000 after acquiring an additional 498 shares in the last quarter. Swiss National Bank boosted its stake in Tarsus Pharmaceuticals by 1.2% during the fourth quarter. Swiss National Bank now owns 52,333 shares of the company's stock worth $2,898,000 after acquiring an additional 600 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Tarsus Pharmaceuticals by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,106 shares of the company's stock worth $449,000 after acquiring an additional 789 shares in the last quarter. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Tarsus Pharmaceuticals news, General Counsel Bryan Wahl sold 3,084 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $154,539.24. Following the completion of the sale, the general counsel now directly owns 51,712 shares of the company's stock, valued at approximately $2,591,288.32. This represents a 5.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dianne C. Whitfield sold 2,315 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $107,161.35. Following the sale, the insider now directly owns 50,751 shares of the company's stock, valued at approximately $2,349,263.79. This represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,542 shares of company stock valued at $1,581,173 over the last three months. Insiders own 8.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TARS shares. Barclays dropped their price objective on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group raised their price target on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Oppenheimer raised their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, January 22nd. Jefferies Financial Group raised their price target on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, HC Wainwright reissued a "buy" rating and set a $73.00 price target on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $66.33.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS traded up $0.20 during mid-day trading on Friday, hitting $43.70. 485,472 shares of the company traded hands, compared to its average volume of 699,829. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The stock has a 50-day moving average price of $48.05 and a two-hundred day moving average price of $49.17. Tarsus Pharmaceuticals, Inc. has a 1 year low of $20.08 and a 1 year high of $57.28. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -11.47 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The firm had revenue of $78.34 million during the quarter, compared to analysts' expectations of $72.50 million. Equities analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

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.