MetLife Investment Management LLC Increases Stock Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

MetLife Investment Management LLC grew its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,678 shares of the company’s stock after purchasing an additional 1,174 shares during the period. MetLife Investment Management LLC’s holdings in Tarsus Pharmaceuticals were worth $1,256,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in Tarsus Pharmaceuticals by 2,088.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock worth $14,477,000 after buying an additional 420,057 shares during the last quarter. Jennison Associates LLC grew its position in Tarsus Pharmaceuticals by 14.8% in the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after purchasing an additional 321,552 shares during the period. Barclays PLC raised its stake in Tarsus Pharmaceuticals by 345.9% during the 3rd quarter. Barclays PLC now owns 98,663 shares of the company’s stock valued at $3,246,000 after buying an additional 76,538 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Tarsus Pharmaceuticals by 0.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company’s stock valued at $63,499,000 after buying an additional 5,565 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Tarsus Pharmaceuticals in the 4th quarter worth $1,107,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Wall Street Analysts Forecast Growth

TARS has been the topic of a number of recent research reports. Jefferies Financial Group increased their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Guggenheim reiterated a “buy” rating and issued a $78.00 price objective (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. HC Wainwright restated a “buy” rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Barclays decreased their price target on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, Oppenheimer boosted their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $63.67.

Insiders Place Their Bets

In other news, General Counsel Bryan Wahl sold 3,084 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $50.11, for a total transaction of $154,539.24. Following the completion of the transaction, the general counsel now owns 51,712 shares in the company, valued at $2,591,288.32. This trade represents a 5.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the chief executive officer now owns 824,106 shares in the company, valued at $41,205,300. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,542 shares of company stock worth $1,581,173 in the last three months. 8.25% of the stock is owned by company insiders.

Tarsus Pharmaceuticals Stock Down 3.1 %

Shares of TARS stock opened at $50.30 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. Tarsus Pharmaceuticals, Inc. has a one year low of $20.08 and a one year high of $57.28. The company’s fifty day moving average price is $47.82 and its 200-day moving average price is $48.67. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -13.20 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. Sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Tarsus Pharmaceuticals Profile

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.