Pictet Asset Management Holding SA Decreases Position in Tarsus Pharmaceuticals, Inc. $TARS

Pictet Asset Management Holding SA lessened its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 49.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 37,578 shares of the company’s stock after selling 36,069 shares during the period. Pictet Asset Management Holding SA’s holdings in Tarsus Pharmaceuticals were worth $3,080,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Deep Track Capital LP increased its position in shares of Tarsus Pharmaceuticals by 71.4% during the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $178,290,000 after acquiring an additional 1,250,000 shares in the last quarter. M&T Bank Corp raised its holdings in Tarsus Pharmaceuticals by 11,730.0% in the 4th quarter. M&T Bank Corp now owns 437,119 shares of the company’s stock worth $35,791,000 after acquiring an additional 433,424 shares during the last quarter. MPM Bioimpact LLC bought a new position in Tarsus Pharmaceuticals in the 2nd quarter valued at approximately $13,834,000. TimesSquare Capital Management LLC bought a new position in Tarsus Pharmaceuticals in the 3rd quarter valued at approximately $15,898,000. Finally, Qube Research & Technologies Ltd boosted its stake in Tarsus Pharmaceuticals by 86.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 459,436 shares of the company’s stock valued at $18,612,000 after purchasing an additional 212,592 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TARS. Guggenheim lifted their target price on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Monday, March 16th. Oppenheimer initiated coverage on Tarsus Pharmaceuticals in a research report on Friday, April 24th. They set an “outperform” rating and a $98.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Tuesday, April 21st. Finally, Zacks Research lowered Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. 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 assigned a Sell rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $90.67.

Tarsus Pharmaceuticals Stock Performance

NASDAQ:TARS opened at $63.62 on Monday. The company has a market cap of $2.74 billion, a PE ratio of -39.27 and a beta of 0.52. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.21. The company has a 50 day simple moving average of $69.07 and a two-hundred day simple moving average of $72.07. Tarsus Pharmaceuticals, Inc. has a 12 month low of $38.51 and a 12 month high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Tarsus Pharmaceuticals had a negative net margin of 14.72% and a negative return on equity of 19.63%. The firm had revenue of $151.67 million for the quarter, compared to the consensus estimate of $144.56 million. Research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -0.74 earnings per share for the current year.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, insider Jeffrey S. Farrow sold 2,186 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $67.00, for a total value of $146,462.00. Following the transaction, the insider directly owned 43,316 shares in the company, valued at approximately $2,902,172. This trade represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elizabeth Yeu Lin sold 390 shares of Tarsus Pharmaceuticals stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $67.00, for a total transaction of $26,130.00. Following the transaction, the insider owned 23,308 shares in the company, valued at $1,561,636. This represents a 1.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 79,391 shares of company stock valued at $5,432,035 in the last quarter. Insiders own 8.97% of the company’s stock.

Tarsus Pharmaceuticals Company Profile

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.