Connor Clark & Lunn Investment Management Ltd. Takes $5.73 Million Position in Tarsus Pharmaceuticals, Inc. $TARS

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the second quarter, according to its most recent filing with the SEC. The firm purchased 90,969 shares of the company’s stock, valued at approximately $5,726,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Tarsus Pharmaceuticals during the second quarter valued at approximately $242,705,000. RTW Investments LP raised its holdings in Tarsus Pharmaceuticals by 5.0% in the fourth quarter. RTW Investments LP now owns 3,335,320 shares of the company’s stock worth $273,096,000 after purchasing an additional 157,884 shares during the period. Deep Track Capital LP boosted its position in shares of 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 purchasing 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 fourth quarter. Vanguard Group Inc. now owns 2,399,560 shares of the company’s stock worth $196,476,000 after purchasing an additional 127,470 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Tarsus Pharmaceuticals by 16.1% during the first quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock worth $157,223,000 after purchasing an additional 310,638 shares in the last quarter. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $71.92 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.17 and a current ratio of 3.20. Tarsus Pharmaceuticals, Inc. has a 52 week low of $48.20 and a 52 week 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. The company has a market capitalization of $3.16 billion, a P/E ratio of -65.98 and a beta of 0.53.

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

Analysts Set New Price Targets

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

Insider Activity at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, Director Katherine Goodrich sold 2,954 shares of the stock in a transaction dated 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 transaction, the director owned 2,233 shares in the company, valued at approximately $138,624.64. This represents a 56.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of Tarsus Pharmaceuticals stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the completion of the sale, the chief executive officer directly owned 847,991 shares in the company, valued at $52,193,846.05. This represents a 1.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 39,850 shares of company stock valued at $2,452,821. 9.64% of the stock is owned by insiders.

About Tarsus Pharmaceuticals

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.