252,588 Shares in Tarsus Pharmaceuticals, Inc. $TARS Purchased by Tri Locum Partners LP

Tri Locum Partners LP purchased a new stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 252,588 shares of the company’s stock, valued at approximately $17,719,000. Tarsus Pharmaceuticals comprises about 2.5% of Tri Locum Partners LP’s investment portfolio, making the stock its 14th largest position. Tri Locum Partners LP owned about 0.59% of Tarsus Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in shares of Tarsus Pharmaceuticals by 139.2% during the first quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock worth $35,000 after buying an additional 291 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Tarsus Pharmaceuticals by 367.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock worth $50,000 after acquiring an additional 558 shares in the last quarter. Comerica Bank boosted its holdings in shares of Tarsus Pharmaceuticals by 470.0% in the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after acquiring an additional 705 shares in the last quarter. Truvestments Capital LLC grew its position in Tarsus Pharmaceuticals by 106.1% during the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock worth $74,000 after acquiring an additional 468 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in Tarsus Pharmaceuticals by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after acquiring an additional 172 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tarsus Pharmaceuticals

In related news, insider Jeffrey S. Farrow sold 14,396 shares of Tarsus Pharmaceuticals stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total value of $877,436.20. Following the completion of the sale, the insider directly owned 56,801 shares in the company, valued at $3,462,020.95. This trade represents a 20.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Bobak R. Azamian sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total value of $615,500.00. Following the sale, the chief executive officer directly owned 847,991 shares of the company’s stock, valued at $52,193,846.05. This represents a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 39,850 shares of company stock worth $2,452,821. Insiders own 9.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TARS. Guggenheim cut their price objective on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research report on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Oppenheimer initiated coverage on Tarsus Pharmaceuticals in a report on Friday, April 24th. They issued an “outperform” rating and a $98.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $88.00 price target on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.50.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock opened at $58.52 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.74 and a quick ratio of 3.71. The firm has a 50 day simple moving average of $61.31 and a 200 day simple moving average of $65.51. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $38.51 and a fifty-two week high of $85.25. The firm has a market cap of $2.52 billion, a P/E ratio of -51.33 and a beta of 0.50.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.24. The firm had revenue of $162.05 million for the quarter, compared to the consensus estimate of $149.60 million. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%. Sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -1.04 earnings per share for the current fiscal year.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.