Northern Trust Corp Acquires 40,061 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Northern Trust Corp grew its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 12.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 357,616 shares of the company's stock after buying an additional 40,061 shares during the quarter. Northern Trust Corp owned 0.94% of Tarsus Pharmaceuticals worth $19,801,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TARS. Crowley Wealth Management Inc. purchased a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter valued at about $25,000. R Squared Ltd purchased a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter valued at about $53,000. Quarry LP purchased a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter valued at about $166,000. HighTower Advisors LLC purchased a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter valued at about $207,000. Finally, Summit Investment Advisors Inc. raised its position in shares of Tarsus Pharmaceuticals by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company's stock valued at $213,000 after buying an additional 244 shares in the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Trading Up 3.0%

Shares of NASDAQ:TARS traded up $1.31 during trading on Monday, reaching $45.01. 570,108 shares of the company were exchanged, compared to its average volume of 699,762. The firm has a market capitalization of $1.89 billion, a PE ratio of -11.81 and a beta of 0.94. The business's fifty day simple moving average is $48.01 and its 200-day simple moving average is $49.22. Tarsus Pharmaceuticals, Inc. has a 12-month low of $20.08 and a 12-month high of $57.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.64) EPS for the quarter, topping analysts' consensus estimates of ($0.69) by $0.05. The business had revenue of $78.34 million for the quarter, compared to analyst estimates of $72.50 million. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. On average, research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insider Transactions at Tarsus Pharmaceuticals

In other news, General Counsel Bryan Wahl sold 3,341 shares of the firm'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 $154,654.89. Following the transaction, the general counsel now directly owns 58,057 shares of the company's stock, valued at approximately $2,687,458.53. This trade represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $50.00, for a total transaction of $300,000.00. Following the transaction, the chief executive officer now owns 824,106 shares in the company, valued at approximately $41,205,300. This represents a 0.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,542 shares of company stock valued at $1,581,173. 8.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TARS has been the topic of several recent research reports. Jefferies Financial Group upped their target price 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. Barclays reduced 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 report on Wednesday, February 26th. Oppenheimer increased their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 22nd. HC Wainwright reissued a "buy" rating and issued a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group increased their price objective on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $66.33.

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.