Assenagon Asset Management S.A. Boosts Stake in Tarsus Pharmaceuticals, Inc. $TARS

Assenagon Asset Management S.A. raised its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 13.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,280,194 shares of the company’s stock after buying an additional 152,464 shares during the period. Assenagon Asset Management S.A.’s holdings in Tarsus Pharmaceuticals were worth $89,806,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. RTW Investments LP raised its holdings in shares of Tarsus Pharmaceuticals by 5.0% in the fourth quarter. RTW Investments LP now owns 3,335,320 shares of the company’s stock worth $273,096,000 after acquiring an additional 157,884 shares during the last quarter. Deep Track Capital LP boosted its stake 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 during the last quarter. Vanguard Group Inc. boosted its stake in shares of Tarsus Pharmaceuticals by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock valued at $196,476,000 after acquiring an additional 127,470 shares during the last quarter. Morgan Stanley increased its position in Tarsus Pharmaceuticals by 6.7% during the 4th quarter. Morgan Stanley now owns 2,040,742 shares of the company’s stock worth $167,096,000 after purchasing an additional 128,340 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in Tarsus Pharmaceuticals by 34.1% during the 4th quarter. Janus Henderson Group PLC now owns 1,930,325 shares of the company’s stock worth $158,062,000 after purchasing an additional 491,326 shares in the last quarter. 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. HC Wainwright restated a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a report on Monday, May 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Tuesday, April 21st. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an “outperform” rating and a $98.00 price objective for the company. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Zacks Research downgraded shares of Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Tarsus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $90.67.

Insider Activity at Tarsus Pharmaceuticals

In other news, insider Jeffrey S. Farrow sold 14,396 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.95, for a total transaction of $877,436.20. Following the transaction, the insider directly owned 56,801 shares in the company, valued at $3,462,020.95. This represents a 20.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Katherine Goodrich sold 2,954 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the transaction, the director directly owned 2,233 shares in the company, valued at approximately $138,624.64. This represents a 56.95% decrease in their position. 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 quarter, insiders sold 39,850 shares of company stock worth $2,452,821. 9.64% of the stock is owned by insiders.

Tarsus Pharmaceuticals Stock Performance

Tarsus Pharmaceuticals stock opened at $67.11 on Thursday. The firm has a market capitalization of $2.89 billion, a P/E ratio of -58.87 and a beta of 0.49. The stock has a fifty day moving average price of $62.76 and a 200 day moving average price of $68.98. 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.

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

Tarsus Pharmaceuticals 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.