Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 36,430.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 13,151 shares of the company’s stock after acquiring an additional 13,115 shares during the quarter. GAMMA Investing LLC’s holdings in Tarsus Pharmaceuticals were worth $676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TARS. Paradigm Biocapital Advisors LP raised its position in Tarsus Pharmaceuticals by 3.7% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 2,531,896 shares of the company’s stock valued at $140,191,000 after buying an additional 91,451 shares during the period. Vanguard Group Inc. raised its position in Tarsus Pharmaceuticals by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 2,115,162 shares of the company’s stock valued at $117,117,000 after buying an additional 17,839 shares during the period. Toronto Dominion Bank acquired a new position in Tarsus Pharmaceuticals during the fourth quarter valued at $105,714,000. Lord Abbett & CO. LLC raised its position in Tarsus Pharmaceuticals by 115.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock valued at $70,873,000 after buying an additional 685,111 shares during the period. Finally, Invesco Ltd. raised its position in Tarsus Pharmaceuticals by 36.7% during the fourth quarter. Invesco Ltd. now owns 932,115 shares of the company’s stock valued at $51,611,000 after buying an additional 250,018 shares during the period. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Performance

TARS stock opened at $41.07 on Thursday. The business’s 50-day moving average price is $45.27 and its two-hundred day moving average price is $48.40. The company has a current ratio of 5.57, a quick ratio of 5.54 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.73 billion, a PE ratio of -15.04 and a beta of 0.83. Tarsus Pharmaceuticals, Inc. has a 1-year low of $20.08 and a 1-year high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.05. The company had revenue of $78.34 million for the quarter, compared to analyst estimates of $72.50 million. Tarsus Pharmaceuticals had a negative return on equity of 39.72% and a negative net margin of 44.91%. As a group, research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Bobak R. Azamian sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the chief executive officer now owns 824,106 shares of the company’s stock, valued at approximately $41,205,300. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TARS. HC Wainwright raised Tarsus Pharmaceuticals to a “buy” rating and set a $72.00 target price on the stock in a research report on Tuesday, May 27th. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Oppenheimer began coverage on Tarsus Pharmaceuticals in a research report on Monday, June 2nd. They issued an “outperform” rating and a $75.00 target price on the stock. The Goldman Sachs Group upped their target price on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Finally, Guggenheim upped their target price on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $66.67.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.