Ally Bridge Group NY LLC Decreases Stake in Tarsus Pharmaceuticals, Inc. $TARS

Ally Bridge Group NY LLC cut its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 41.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 70,778 shares of the company’s stock after selling 50,404 shares during the quarter. Tarsus Pharmaceuticals comprises about 2.6% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 15th largest position. Ally Bridge Group NY LLC owned approximately 0.17% of Tarsus Pharmaceuticals worth $4,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Deep Track Capital LP boosted its holdings in Tarsus Pharmaceuticals by 71.4% during the third quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock worth $178,290,000 after buying an additional 1,250,000 shares in the last quarter. Jennison Associates LLC grew its position in Tarsus Pharmaceuticals by 5.5% during the third quarter. Jennison Associates LLC now owns 2,604,580 shares of the company’s stock worth $154,790,000 after buying an additional 136,582 shares during the period. Assenagon Asset Management S.A. increased its holdings in Tarsus Pharmaceuticals by 25.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,247,954 shares of the company’s stock valued at $74,166,000 after buying an additional 250,367 shares in the last quarter. Invesco Ltd. increased its holdings in Tarsus Pharmaceuticals by 0.9% in the third quarter. Invesco Ltd. now owns 937,006 shares of the company’s stock valued at $55,686,000 after buying an additional 8,505 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Tarsus Pharmaceuticals by 8.0% during the 2nd quarter. Geode Capital Management LLC now owns 934,420 shares of the company’s stock valued at $37,859,000 after acquiring an additional 68,986 shares during the period. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Down 0.3%

TARS stock opened at $67.96 on Friday. The stock has a market capitalization of $2.89 billion, a P/E ratio of -41.95 and a beta of 0.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.82 and a current ratio of 3.85. Tarsus Pharmaceuticals, Inc. has a one year low of $38.51 and a one year high of $85.25. The company has a 50 day moving average price of $70.21 and a two-hundred day moving average price of $69.97.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $144.56 million. As a group, sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insiders Place Their Bets

In related news, insider Dianne C. Whitfield sold 7,397 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $80.10, for a total value of $592,499.70. Following the completion of the transaction, the insider directly owned 38,958 shares in the company, valued at approximately $3,120,535.80. This represents a 15.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Bobak R. Azamian sold 6,000 shares of the stock in a transaction dated Wednesday, December 24th. The stock was sold at an average price of $82.51, for a total value of $495,060.00. Following the transaction, the chief executive officer owned 857,991 shares in the company, valued at $70,792,837.41. This trade represents a 0.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 8.97% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TARS shares. Barclays began coverage on Tarsus Pharmaceuticals in a research note on Monday, December 8th. They set an “overweight” rating and a $100.00 price target on the stock. Mizuho initiated coverage on Tarsus Pharmaceuticals in a report on Thursday, November 20th. They set an “outperform” rating and a $100.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Thursday, January 22nd. Guggenheim upped their target price on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, Zacks Research lowered Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.