Altium Capital Management LP Makes New $2.05 Million Investment in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Altium Capital Management LP purchased a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 70,573 shares of the company’s stock, valued at approximately $2,045,000. Altium Capital Management LP owned about 0.34% of Tarsus Pharmaceuticals at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TARS. Royal Bank of Canada increased its stake in shares of Tarsus Pharmaceuticals by 78.2% in the first quarter. Royal Bank of Canada now owns 1,470 shares of the company’s stock worth $48,000 after purchasing an additional 645 shares during the period. UBS Group AG increased its stake in shares of Tarsus Pharmaceuticals by 88.4% in the first quarter. UBS Group AG now owns 2,496 shares of the company’s stock worth $80,000 after purchasing an additional 1,171 shares during the period. Deutsche Bank AG increased its stake in shares of Tarsus Pharmaceuticals by 41.6% in the second quarter. Deutsche Bank AG now owns 5,574 shares of the company’s stock worth $161,000 after purchasing an additional 1,638 shares during the period. New York State Common Retirement Fund increased its stake in shares of Tarsus Pharmaceuticals by 68.6% in the first quarter. New York State Common Retirement Fund now owns 5,900 shares of the company’s stock worth $190,000 after purchasing an additional 2,400 shares during the period. Finally, Virtus ETF Advisers LLC bought a new position in shares of Tarsus Pharmaceuticals in the second quarter worth about $183,000. 63.50% of the stock is owned by institutional investors.

Shares of TARS stock traded down $1.19 during trading hours on Thursday, hitting $28.49. The company had a trading volume of 207 shares, compared to its average volume of 46,272. Tarsus Pharmaceuticals, Inc. has a 12 month low of $15.32 and a 12 month high of $63.69. The firm has a market capitalization of $586.15 million and a price-to-earnings ratio of -6.59. The firm’s fifty day moving average is $24.02 and its 200 day moving average is $27.78.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Wednesday, August 4th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of ($0.52) by $0.81. The business had revenue of $22.02 million during the quarter, compared to analyst estimates of $10.00 million. On average, research analysts expect that Tarsus Pharmaceuticals, Inc. will post -0.23 earnings per share for the current fiscal year.

In other Tarsus Pharmaceuticals news, insider Aziz Mottiwala sold 2,593 shares of the company’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $22.15, for a total transaction of $57,434.95. Following the transaction, the insider now owns 58,203 shares of the company’s stock, valued at approximately $1,289,196.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Bobak R. Azamian sold 1,370 shares of the company’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $25.00, for a total value of $34,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,492 shares of company stock worth $431,566. Company insiders own 33.08% of the company’s stock.

A number of research firms have recently commented on TARS. Raymond James lifted their price objective on Tarsus Pharmaceuticals from $50.00 to $65.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 7th. Jefferies Financial Group boosted their price target on Tarsus Pharmaceuticals from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, June 22nd. Finally, Zacks Investment Research lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $41.80.

Tarsus Pharmaceuticals Profile

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 IIb/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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Institutional Ownership by Quarter for Tarsus Pharmaceuticals (NASDAQ:TARS)

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