Insider Selling: Tarsus Pharmaceuticals (NASDAQ:TARS) Director Sells 27,116 Shares of Stock

Key Points

• William Phd Link, a director at Tarsus Pharmaceuticals, sold 27,116 shares for a total of $1,545,612, reducing his ownership by 15.91%.
• Tarsus recently reported an earnings miss, with a loss of $0.48 per share, falling short of analyst expectations by $0.15, despite revenue exceeding estimates at $102.66 million.
• The stock has seen trading volatility, recently falling 3.8% to $54.33, with a market capitalization of $2.29 billion.

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) Director William J. Phd Link sold 27,116 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the transaction, the director directly owned 143,332 shares of the company's stock, valued at $8,169,924. This represents a 15.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ TARS traded up $0.23 on Monday, reaching $49.59. 867,494 shares of the company's stock traded hands, compared to its average volume of 646,954. Tarsus Pharmaceuticals, Inc. has a 12 month low of $30.23 and a 12 month high of $59.76. The business's 50 day simple moving average is $48.63 and its two-hundred day simple moving average is $46.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.26 and a quick ratio of 5.21.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.15). The firm had revenue of $102.66 million for the quarter, compared to the consensus estimate of $95.81 million. Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. Equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TARS. HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 price target for the company in a research report on Tuesday, May 27th. Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They set an "outperform" rating and a $75.00 price target for the company. Zacks Research raised shares of Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Wall Street Zen cut shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $66.67.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its holdings in Tarsus Pharmaceuticals by 779.1% in the second quarter. Osaic Holdings Inc. now owns 2,778 shares of the company's stock worth $113,000 after purchasing an additional 2,462 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Tarsus Pharmaceuticals by 9.6% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 8,438 shares of the company's stock worth $342,000 after acquiring an additional 740 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Tarsus Pharmaceuticals by 78.0% during the 2nd quarter. Squarepoint Ops LLC now owns 102,642 shares of the company's stock worth $4,158,000 after acquiring an additional 44,986 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Tarsus Pharmaceuticals by 220.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company's stock worth $164,000 after acquiring an additional 2,782 shares during the last quarter. Finally, Man Group plc purchased a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter worth $1,098,000. Hedge funds and other institutional investors own 90.01% of the company's stock.

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.