Insider Selling: Tarsus Pharmaceuticals (NASDAQ:TARS) Insider Sells 14,396 Shares of Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) insider Jeffrey Farrow sold 14,396 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on 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 transaction, 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 is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Tarsus Pharmaceuticals Trading Up 2.9%

TARS stock traded up $1.75 during midday trading on Wednesday, hitting $62.55. The company had a trading volume of 462,278 shares, compared to its average volume of 606,366. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -54.87 and a beta of 0.49. Tarsus Pharmaceuticals, Inc. has a 52 week low of $38.51 and a 52 week high of $85.25. The company has a current ratio of 3.74, a quick ratio of 3.71 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average price is $63.62 and its 200 day moving average price is $69.67.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.24. The company had revenue of $162.05 million for the quarter, compared to the consensus estimate of $149.60 million. Tarsus Pharmaceuticals had a negative net margin of 9.02% and a negative return on equity of 14.19%. As a group, equities research analysts expect that Tarsus Pharmaceuticals, Inc. will post -0.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TARS has been the subject of a number of analyst reports. Lifesci Capital upgraded shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Monday, March 16th. Guggenheim upped their price target on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating and issued a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Monday, May 4th. Finally, Zacks Research downgraded Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.67.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Tarsus Pharmaceuticals by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock worth $1,137,000 after purchasing an additional 1,217 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Tarsus Pharmaceuticals by 2.0% in the 1st 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 acquiring an additional 1,394 shares in the last quarter. Jane Street Group LLC lifted its position in Tarsus Pharmaceuticals by 105.8% during the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock valued at $537,000 after acquiring an additional 190,000 shares during the period. JPMorgan Chase & Co. lifted its position in Tarsus Pharmaceuticals by 402.7% during 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 during the period. Finally, Invesco Ltd. boosted its stake 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 acquiring an additional 101,978 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

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.