Jupiter Topco LLC Takes Position in Tarsus Pharmaceuticals, Inc. $TARS

Jupiter Topco LLC purchased a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 2,808,796 shares of the company’s stock, valued at approximately $176,834,000. Jupiter Topco LLC owned about 0.06% of Tarsus Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TARS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Tarsus Pharmaceuticals by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock worth $1,137,000 after purchasing an additional 1,217 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Tarsus Pharmaceuticals by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock valued at $3,659,000 after purchasing an additional 1,394 shares during the period. Jane Street Group LLC grew its stake in Tarsus Pharmaceuticals by 105.8% during the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock worth $537,000 after buying an additional 190,000 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Tarsus Pharmaceuticals by 402.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock worth $5,696,000 after buying an additional 112,637 shares during the last quarter. Finally, Invesco Ltd. increased its position in Tarsus Pharmaceuticals by 12.3% during the second quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock worth $37,614,000 after buying an additional 101,978 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the transaction, the chief executive officer directly owned 847,991 shares of the company’s stock, valued at approximately $52,193,846.05. The trade was a 1.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total transaction of $877,436.20. Following the transaction, the insider owned 56,801 shares of the company’s stock, valued at approximately $3,462,020.95. The trade was a 20.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 39,850 shares of company stock valued at $2,452,821. Corporate insiders own 9.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TARS. Guggenheim decreased their price objective on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Mizuho decreased their price target on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Finally, HC Wainwright reissued a “buy” rating and set a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.50.

Tarsus Pharmaceuticals Stock Down 1.1%

TARS opened at $70.65 on Thursday. Tarsus Pharmaceuticals, Inc. has a 52 week low of $48.20 and a 52 week high of $85.25. The business has a 50 day moving average price of $64.05 and a two-hundred day moving average price of $65.24. The company has a quick ratio of 3.17, a current ratio of 3.20 and a debt-to-equity ratio of 0.21. The company has a market cap of $3.10 billion, a PE ratio of -64.82 and a beta of 0.53.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.24). The company had revenue of $173.91 million during the quarter, compared to analysts’ expectations of $169.65 million. Tarsus Pharmaceuticals had a negative net margin of 7.67% and a negative return on equity of 13.53%. As a group, research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current year.

Tarsus Pharmaceuticals 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.