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.

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report) fell 4.1% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $52.15 and last traded at $52.09. 259,792 shares changed 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 company's 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 directly owned 143,332 shares in the company, valued at approximately $8,169,924. This represents a 15.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

TARS has been the subject of a number of recent research reports. HC Wainwright upgraded 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 upgraded Tarsus Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Friday, September 5th. Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a research note on Monday, June 2nd. They issued an "outperform" rating and a $75.00 price objective on the stock. Finally, Wall Street Zen lowered 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 given a Hold rating to the stock. According to MarketBeat.com, Tarsus Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $66.67.

Tarsus Pharmaceuticals Stock Performance

The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of -22.30 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a current ratio of 5.26 and a quick ratio of 5.21. The stock has a 50 day moving average price of $48.24 and a two-hundred day moving average price of $46.42.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new position in Tarsus Pharmaceuticals during the 4th quarter worth $44,000. Amalgamated Bank increased its position in Tarsus Pharmaceuticals by 30.1% in the first quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after purchasing an additional 295 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Tarsus Pharmaceuticals by 26.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company's stock worth $66,000 after purchasing an additional 339 shares during the period. Osaic Holdings Inc. increased its position 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 period. Finally, Tower Research Capital LLC TRC increased its position in Tarsus Pharmaceuticals by 220.3% in the second quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company's stock worth $164,000 after purchasing an additional 2,782 shares during the period. Institutional investors and hedge funds 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.

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