12,300 Shares in Tarsus Pharmaceuticals, Inc. $TARS Bought by Cibc World Market Inc.

Cibc World Market Inc. purchased a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 12,300 shares of the company’s stock, valued at approximately $774,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at $242,705,000. RTW Investments LP boosted its position in shares of Tarsus Pharmaceuticals by 5.0% during the 4th quarter. RTW Investments LP now owns 3,335,320 shares of the company’s stock valued at $273,096,000 after acquiring an additional 157,884 shares in the last quarter. Deep Track Capital LP boosted its position in shares of Tarsus Pharmaceuticals by 71.4% during the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $178,290,000 after acquiring an additional 1,250,000 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Tarsus Pharmaceuticals by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock valued at $196,476,000 after acquiring an additional 127,470 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Tarsus Pharmaceuticals by 16.1% in the first quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock valued at $157,223,000 after acquiring an additional 310,638 shares during the period. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

NASDAQ:TARS opened at $71.92 on Friday. 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 firm has a market cap of $3.16 billion, a PE ratio of -65.98 and a beta of 0.53. Tarsus Pharmaceuticals, Inc. has a 12 month low of $48.20 and a 12 month high of $85.25. The company’s 50-day moving average price is $64.22 and its two-hundred day moving average price is $65.29.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data 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). Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%.The firm had revenue of $173.91 million for the quarter, compared to analyst estimates of $169.65 million. On average, equities analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -2.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Katherine Goodrich sold 2,954 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the completion of the sale, the director directly owned 2,233 shares of the company’s stock, valued at $138,624.64. This trade represents a 56.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the firm’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 sale, the chief executive officer directly owned 847,991 shares of the company’s stock, valued at $52,193,846.05. This represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 39,850 shares of company stock valued at $2,452,821 in the last 90 days. Insiders own 9.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TARS shares. Oppenheimer increased their price target on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Guggenheim dropped their target price on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.50.

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.