Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Sees Significant Decrease in Short Interest

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARSGet Rating) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totalling 386,800 shares, a decrease of 32.2% from the April 30th total of 570,200 shares. Based on an average daily trading volume, of 151,200 shares, the short-interest ratio is currently 2.6 days. Approximately 2.3% of the company’s shares are sold short.

TARS opened at $14.36 on Friday. The business’s 50-day simple moving average is $16.01 and its 200 day simple moving average is $19.53. Tarsus Pharmaceuticals has a 52-week low of $10.80 and a 52-week high of $39.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 14.18 and a current ratio of 14.18. The firm has a market capitalization of $297.64 million, a PE ratio of -6.62 and a beta of 1.45.

Tarsus Pharmaceuticals (NASDAQ:TARSGet Rating) last announced its quarterly earnings data on Monday, March 14th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.05. The company had revenue of $0.34 million for the quarter, compared to analysts’ expectations of $7.11 million. Tarsus Pharmaceuticals had a negative return on equity of 25.85% and a negative net margin of 184.14%. On average, research analysts forecast that Tarsus Pharmaceuticals will post -3.37 earnings per share for the current year.

Several analysts have issued reports on TARS shares. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Tarsus Pharmaceuticals in a research note on Tuesday, May 3rd. Zacks Investment Research upgraded Tarsus Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, February 24th. Finally, Oppenheimer raised their price target on shares of Tarsus Pharmaceuticals from $55.00 to $66.00 in a research note on Monday, May 2nd. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $48.00.

In other Tarsus Pharmaceuticals news, Director Michael Ackermann acquired 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The stock was acquired at an average cost of $13.50 per share, for a total transaction of $1,350,000.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at $1,350,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Vivo Capital Ix, Llc sold 19,738 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $12.67, for a total transaction of $250,080.46. Following the sale, the insider now owns 2,474,375 shares in the company, valued at $31,350,331.25. The disclosure for this sale can be found here. 33.08% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Citigroup Inc. grew its position in shares of Tarsus Pharmaceuticals by 123.0% in the 4th quarter. Citigroup Inc. now owns 2,145 shares of the company’s stock valued at $48,000 after acquiring an additional 1,183 shares during the period. UBS Group AG lifted its stake in Tarsus Pharmaceuticals by 37.0% in the 1st quarter. UBS Group AG now owns 4,226 shares of the company’s stock valued at $71,000 after purchasing an additional 1,142 shares during the last quarter. Morgan Stanley bought a new position in Tarsus Pharmaceuticals during the second quarter worth about $241,000. Dimensional Fund Advisors LP bought a new stake in Tarsus Pharmaceuticals in the fourth quarter valued at approximately $202,000. Finally, J. Goldman & Co LP bought a new stake in Tarsus Pharmaceuticals in the first quarter valued at approximately $177,000. 70.00% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also

Receive News & Ratings for Tarsus Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tarsus Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.