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

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS – Get 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:TARS – Get 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.

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