Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Down 4.1% on Insider Selling

Key Points

• Tarsus Pharmaceuticals' stock fell by 4.1% following the sale of shares by insider Director William J. Phd Link, who sold 27,116 shares for over $1.5 million.
• The company reported a loss per share of ($0.48), missing analysts' estimates, but had revenue of $102.66 million, exceeding expectations.
• Despite recent declines, five analysts rated Tarsus Pharmaceuticals as a "Buy," reflecting a consensus target price of $66.67.

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) shares traded down 4.1% on Thursday following insider selling activity. The company traded as low as $52.15 and last traded at $52.09. 259,792 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 656,476 shares. The stock had previously closed at $54.33.

Specifically, Director William J. Phd Link sold 27,116 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $57.00, for a total value of $1,545,612.00. Following the completion of the transaction, the director owned 143,332 shares of the company's stock, valued at approximately $8,169,924. This represents a 15.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

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

Tarsus Pharmaceuticals Stock Performance

The firm has a 50 day moving average of $48.82 and a 200-day moving average of $46.60. The stock has a market capitalization of $2.10 billion, a PE ratio of -21.31 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26.

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

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Amalgamated Bank lifted its stake in Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after acquiring an additional 295 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Tarsus Pharmaceuticals by 36,430.6% during the 1st quarter. GAMMA Investing LLC now owns 13,151 shares of the company's stock worth $676,000 after purchasing an additional 13,115 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Tarsus Pharmaceuticals by 21.2% during the 4th quarter. Ameriprise Financial Inc. now owns 47,685 shares of the company's stock worth $2,640,000 after purchasing an additional 8,336 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Tarsus Pharmaceuticals by 4.3% during the 1st quarter. Rhumbline Advisers now owns 51,682 shares of the company's stock worth $2,655,000 after purchasing an additional 2,148 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Tarsus Pharmaceuticals during the 1st quarter worth about $26,199,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

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.