Tarsus Pharmaceuticals, Inc. $TARS Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership decreased its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 10.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 539,303 shares of the company’s stock after selling 63,911 shares during the period. Artisan Partners Limited Partnership owned approximately 1.28% of Tarsus Pharmaceuticals worth $21,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in TARS. Mirae Asset Global Investments Co. Ltd. boosted its position in Tarsus Pharmaceuticals by 26.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company’s stock valued at $66,000 after buying an additional 339 shares during the last quarter. Quarry LP raised its position in Tarsus Pharmaceuticals by 20.0% during the 1st quarter. Quarry LP now owns 3,599 shares of the company’s stock worth $185,000 after buying an additional 599 shares during the last quarter. AlphaQuest LLC acquired a new stake in Tarsus Pharmaceuticals during the 1st quarter valued at approximately $189,000. Allianz Asset Management GmbH purchased a new stake in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at $227,000. Finally, FORA Capital LLC acquired a new stake in shares of Tarsus Pharmaceuticals in the first quarter worth $271,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

TARS opened at $79.66 on Friday. The stock’s 50-day moving average price is $66.66 and its 200 day moving average price is $53.01. Tarsus Pharmaceuticals, Inc. has a 12-month low of $38.51 and a 12-month high of $82.42. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -39.44 and a beta of 0.82. The company has a current ratio of 4.29, a quick ratio of 4.25 and a debt-to-equity ratio of 0.22.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Tuesday, November 4th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 26.29% and a negative net margin of 22.17%.The firm had revenue of $118.70 million during the quarter, compared to analysts’ expectations of $114.22 million. As a group, sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Analyst Ratings Changes

TARS has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Wednesday, October 8th. Mizuho assumed coverage on Tarsus Pharmaceuticals in a report on Thursday. They issued an “outperform” rating and a $100.00 price target for the company. The Goldman Sachs Group restated a “neutral” rating and issued a $51.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, November 6th. Guggenheim raised their price objective on shares of Tarsus Pharmaceuticals from $84.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, HC Wainwright lifted their target price on shares of Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $74.14.

Insider Activity at Tarsus Pharmaceuticals

In related news, Director William J. Phd Link sold 27,116 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, September 8th. The shares were sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the sale, the director directly owned 143,332 shares in the company, valued at $8,169,924. This trade represents a 15.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of the business’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total value of $332,220.00. Following the completion of the sale, the chief executive officer directly owned 812,106 shares of the company’s stock, valued at $44,966,309.22. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.97% of the company’s stock.

About Tarsus Pharmaceuticals

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.