Insider Buying: Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Director Buys 100,000 Shares of Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS – Get Rating) Director Michael Ackermann acquired 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were bought at an average price of $13.50 per share, for a total transaction of $1,350,000.00. Following the completion of the purchase, the director now owns 100,000 shares in the company, valued at approximately $1,350,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Tarsus Pharmaceuticals stock traded up $0.16 during midday trading on Monday, hitting $11.24. 386,604 shares of the company’s stock were exchanged, compared to its average volume of 90,059. Tarsus Pharmaceuticals, Inc. has a 52-week low of $10.80 and a 52-week high of $39.08. The stock’s 50-day moving average price is $17.57. The firm has a market capitalization of $232.97 million, a P/E ratio of -15.53 and a beta of 1.45.

Tarsus Pharmaceuticals (NASDAQ:TARS – Get Rating) last posted its earnings results on Monday, March 14th. The company reported ($0.72) EPS for the quarter, topping 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 business had revenue of $0.34 million during the quarter, compared to analysts’ expectations of $7.11 million. As a group, research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.82 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. boosted its holdings in shares of Tarsus Pharmaceuticals by 123.0% in the 4th quarter. Citigroup Inc. now owns 2,145 shares of the company’s stock worth $48,000 after purchasing an additional 1,183 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Tarsus Pharmaceuticals by 6.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 28,103 shares of the company’s stock worth $632,000 after purchasing an additional 1,623 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Tarsus Pharmaceuticals by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 125,815 shares of the company’s stock worth $2,830,000 after purchasing an additional 2,117 shares in the last quarter. State Street Corp boosted its holdings in shares of Tarsus Pharmaceuticals by 2.3% in the 4th quarter. State Street Corp now owns 129,742 shares of the company’s stock worth $2,919,000 after purchasing an additional 2,940 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Tarsus Pharmaceuticals by 13.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,523 shares of the company’s stock worth $529,000 after purchasing an additional 2,950 shares in the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

A number of analysts recently issued reports on TARS shares. Oppenheimer boosted their price objective on Tarsus Pharmaceuticals from $55.00 to $66.00 in a research note on Monday, May 2nd. Zacks Investment Research upgraded Tarsus Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, February 24th. Finally, HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Tarsus Pharmaceuticals in a research report on Tuesday, May 3rd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $48.00.

Tarsus Pharmaceuticals Company Profile (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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