Citigroup Inc. Increases Position in Tarsus Pharmaceuticals, Inc. $TARS

Citigroup Inc. raised its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 78.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,591 shares of the company’s stock after purchasing an additional 17,797 shares during the period. Citigroup Inc. owned 0.10% of Tarsus Pharmaceuticals worth $2,412,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Osaic Holdings Inc. boosted its position in shares of Tarsus Pharmaceuticals by 779.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,778 shares of the company’s stock worth $113,000 after purchasing an additional 2,462 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Tarsus Pharmaceuticals by 220.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company’s stock valued at $164,000 after buying an additional 2,782 shares in the last quarter. West Wealth Group LLC purchased a new position in Tarsus Pharmaceuticals during the third quarter valued at $202,000. Valeo Financial Advisors LLC purchased a new position in Tarsus Pharmaceuticals during the third quarter valued at $209,000. Finally, XTX Topco Ltd bought a new stake in Tarsus Pharmaceuticals in the second quarter worth $227,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Stock Down 2.2%

Tarsus Pharmaceuticals stock opened at $73.26 on Friday. Tarsus Pharmaceuticals, Inc. has a 12 month low of $38.51 and a 12 month high of $85.25. The stock has a fifty day simple moving average of $71.32 and a two-hundred day simple moving average of $69.49. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.21. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -45.22 and a beta of 0.55.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Tarsus Pharmaceuticals had a negative net margin of 14.72% and a negative return on equity of 19.63%. The business had revenue of $151.67 million for the quarter, compared to the consensus estimate of $144.56 million. Equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Transactions at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, insider Dianne C. Whitfield sold 7,397 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $80.10, for a total transaction of $592,499.70. Following the transaction, the insider owned 38,958 shares in the company, valued at approximately $3,120,535.80. This represents a 15.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Bobak R. Azamian sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were sold at an average price of $82.51, for a total transaction of $495,060.00. Following the sale, the chief executive officer directly owned 857,991 shares in the company, valued at approximately $70,792,837.41. The trade was a 0.69% decrease in their position. The SEC filing for this sale provides additional information. 8.97% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on TARS. The Goldman Sachs Group reissued a “neutral” rating and issued a $68.00 target price on shares of Tarsus Pharmaceuticals in a research note on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Thursday, January 22nd. Barclays initiated coverage on shares of Tarsus Pharmaceuticals in a research report on Monday, December 8th. They set an “overweight” rating and a $100.00 price objective on the stock. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Oppenheimer lifted their target price on shares of Tarsus Pharmaceuticals from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.83.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.