J. Goldman & Co LP Invests $1.69 Million in Tarsus Pharmaceuticals, Inc. $TARS

J. Goldman & Co LP bought a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the second quarter, HoldingsChannel reports. The firm bought 26,800 shares of the company’s stock, valued at approximately $1,687,000.

Several other hedge funds and other institutional investors have also modified their holdings of TARS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Tarsus Pharmaceuticals by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock valued at $1,137,000 after purchasing an additional 1,217 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tarsus Pharmaceuticals by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock worth $3,659,000 after buying an additional 1,394 shares during the period. Jane Street Group LLC lifted its position in shares of Tarsus Pharmaceuticals by 105.8% in the first quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock worth $537,000 after purchasing an additional 190,000 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Tarsus Pharmaceuticals by 402.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock valued at $5,696,000 after acquiring an additional 112,637 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Tarsus Pharmaceuticals by 12.3% during the second quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock worth $37,614,000 after purchasing an additional 101,978 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In related news, CEO Bobak R. Azamian sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total transaction of $615,500.00. Following the transaction, the chief executive officer directly owned 847,991 shares in the company, valued at approximately $52,193,846.05. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Katherine Goodrich sold 2,954 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the completion of the sale, the director directly owned 2,233 shares of the company’s stock, valued at $138,624.64. The trade was a 56.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 39,850 shares of company stock worth $2,452,821. 9.64% of the stock is owned by insiders.

Analyst Ratings Changes

TARS has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Oppenheimer upped their price target on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Mizuho reduced their price objective on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Finally, Guggenheim dropped their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.50.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS opened at $71.45 on Wednesday. The firm has a market capitalization of $3.14 billion, a P/E ratio of -65.55 and a beta of 0.53. Tarsus Pharmaceuticals, Inc. has a 52 week low of $48.20 and a 52 week high of $85.25. The stock has a 50 day moving average price of $63.88 and a two-hundred day moving average price of $65.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The company had revenue of $173.91 million for the quarter, compared to the consensus estimate of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. Equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -2.06 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.