Price T Rowe Associates Inc. MD Buys 221,458 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Price T Rowe Associates Inc. MD boosted its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 92.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 460,773 shares of the company's stock after purchasing an additional 221,458 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 1.21% of Tarsus Pharmaceuticals worth $25,514,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in Tarsus Pharmaceuticals during the fourth quarter valued at approximately $25,000. R Squared Ltd bought a new position in shares of Tarsus Pharmaceuticals in the fourth quarter worth $53,000. HighTower Advisors LLC purchased a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter worth $207,000. Summit Investment Advisors Inc. grew its position 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 buying an additional 244 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in Tarsus Pharmaceuticals in the 4th quarter worth about $223,000. 90.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, General Counsel Bryan Wahl sold 3,341 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total value of $154,654.89. Following the completion of the sale, the general counsel now owns 58,057 shares of the company's stock, valued at $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 is available through this link. Also, CEO Bobak R. Azamian sold 7,131 shares of Tarsus Pharmaceuticals stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $330,093.99. Following the completion of the sale, the chief executive officer now owns 70,720 shares in the company, valued at approximately $3,273,628.80. This trade represents a 9.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,542 shares of company stock valued at $1,581,173. Insiders own 8.25% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. HC Wainwright reissued a "buy" rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 26th. Jefferies Financial Group raised their price objective 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. Guggenheim upped their target price on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday. Barclays lowered their price target on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Finally, Oppenheimer increased their price objective on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $64.67.

Tarsus Pharmaceuticals Trading Down 5.8 %

TARS traded down $2.94 on Friday, hitting $47.36. 992,443 shares of the company were exchanged, compared to its average volume of 696,539. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. Tarsus Pharmaceuticals, Inc. has a 12 month low of $20.08 and a 12 month high of $57.28. The firm has a fifty day simple moving average of $47.94 and a two-hundred day simple moving average of $48.81. The stock has a market capitalization of $1.82 billion, a PE ratio of -12.43 and a beta of 0.94.

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 the consensus estimate of ($0.69) by $0.05. The company had revenue of $78.34 million for the quarter, compared to the consensus estimate of $72.50 million. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. Sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

About Tarsus Pharmaceuticals

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.