Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Sees Large Increase in Short Interest

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS – Get Rating) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 548,000 shares, a growth of 35.4% from the March 15th total of 404,600 shares. Based on an average daily volume of 38,600 shares, the short-interest ratio is currently 14.2 days. Currently, 5.7% of the company’s shares are short sold.

Tarsus Pharmaceuticals stock opened at $18.38 on Monday. The business’s fifty day moving average is $17.51. The stock has a market capitalization of $380.63 million, a price-to-earnings ratio of -25.53 and a beta of 2.33. Tarsus Pharmaceuticals has a twelve month low of $14.41 and a twelve month high of $39.08.

Tarsus Pharmaceuticals (NASDAQ:TARS – Get Rating) last issued its quarterly earnings data on Monday, March 14th. The company reported ($0.72) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 7.66% and a negative net margin of 24.25%. The firm had revenue of $0.34 million during the quarter, compared to analyst estimates of $7.11 million. On average, equities research analysts predict that Tarsus Pharmaceuticals will post -3.97 EPS for the current year.

A number of brokerages recently issued reports on TARS. Zacks Investment Research upgraded Tarsus Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, February 24th. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Tarsus Pharmaceuticals in a report on Thursday, March 17th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $45.80.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Tarsus Pharmaceuticals by 1.7% during the 4th quarter. BlackRock Inc. now owns 448,958 shares of the company’s stock valued at $10,101,000 after purchasing an additional 7,338 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Tarsus Pharmaceuticals by 6.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 28,103 shares of the company’s stock valued at $632,000 after purchasing an additional 1,623 shares during the last quarter. State Street Corp lifted its holdings in shares of Tarsus Pharmaceuticals by 2.3% during the 4th quarter. State Street Corp now owns 129,742 shares of the company’s stock valued at $2,919,000 after purchasing an additional 2,940 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tarsus Pharmaceuticals by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 125,815 shares of the company’s stock valued at $2,830,000 after purchasing an additional 2,117 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of Tarsus Pharmaceuticals by 21.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 242,451 shares of the company’s stock valued at $5,456,000 after purchasing an additional 42,451 shares during the last quarter. Hedge funds and other institutional investors own 69.23% of the company’s stock.

About Tarsus Pharmaceuticals (Get Rating)

Tarsus Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for ophthalmic conditions. Its lead product candidate is TP-03, a novel therapeutic that is in Phase III for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.

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