Boothbay Fund Management LLC Sells 119,160 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Boothbay Fund Management LLC cut its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 43.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,403 shares of the company's stock after selling 119,160 shares during the period. Boothbay Fund Management LLC owned about 0.41% of Tarsus Pharmaceuticals worth $8,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC increased its stake in Tarsus Pharmaceuticals by 345.9% in the 3rd quarter. Barclays PLC now owns 98,663 shares of the company's stock worth $3,246,000 after buying an additional 76,538 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Tarsus Pharmaceuticals by 8.1% during the third quarter. Geode Capital Management LLC now owns 835,790 shares of the company's stock worth $27,494,000 after purchasing an additional 62,555 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Tarsus Pharmaceuticals by 9.3% during the third quarter. Franklin Resources Inc. now owns 12,164 shares of the company's stock worth $444,000 after purchasing an additional 1,033 shares in the last quarter. Exome Asset Management LLC bought a new stake in Tarsus Pharmaceuticals during the 3rd quarter valued at approximately $1,500,000. Finally, Lord Abbett & CO. LLC lifted its holdings in Tarsus Pharmaceuticals by 28.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company's stock worth $19,565,000 after purchasing an additional 131,636 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TARS has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Barclays cut their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Oppenheimer boosted their price target on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 22nd. Guggenheim restated a "buy" rating and set a $78.00 price objective (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. Finally, HC Wainwright reiterated a "buy" rating and issued a $73.00 target price on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $63.67.

Insider Activity

In other Tarsus Pharmaceuticals news, General Counsel Bryan Wahl sold 3,084 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $154,539.24. Following the transaction, the general counsel now owns 51,712 shares in the company, valued at $2,591,288.32. The trade was a 5.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dianne C. Whitfield sold 2,137 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $107,085.07. Following the completion of the sale, the insider now directly owns 46,355 shares in the company, valued at approximately $2,322,849.05. This represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,542 shares of company stock valued at $1,581,173. 8.25% of the stock is currently owned by insiders.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS traded down $0.28 during mid-day trading on Monday, hitting $49.72. 685,350 shares of the company's stock traded hands, compared to its average volume of 689,959. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. Tarsus Pharmaceuticals, Inc. has a 1 year low of $20.08 and a 1 year high of $57.28. The company's 50-day moving average is $47.60 and its two-hundred day moving average is $48.53. The company has a market capitalization of $1.91 billion, a P/E ratio of -13.05 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.08. The company had revenue of $66.41 million for the quarter, compared to analysts' expectations of $58.80 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. On average, equities analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.