Rock Springs Capital Management LP Purchases New Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Rock Springs Capital Management LP bought a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 110,889 shares of the company's stock, valued at approximately $6,140,000. Rock Springs Capital Management LP owned about 0.29% of Tarsus Pharmaceuticals at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. MetLife Investment Management LLC raised its position in Tarsus Pharmaceuticals by 5.5% during the 4th quarter. MetLife Investment Management LLC now owns 22,678 shares of the company's stock worth $1,256,000 after purchasing an additional 1,174 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new position in shares of Tarsus Pharmaceuticals in the fourth quarter worth approximately $433,000. Canada Pension Plan Investment Board boosted its holdings in Tarsus Pharmaceuticals by 13,616.7% in the fourth quarter. Canada Pension Plan Investment Board now owns 82,300 shares of the company's stock valued at $4,557,000 after acquiring an additional 81,700 shares during the last quarter. EAM Investors LLC bought a new position in Tarsus Pharmaceuticals during the 4th quarter worth approximately $3,976,000. Finally, XTX Topco Ltd acquired a new position in shares of Tarsus Pharmaceuticals in the 4th quarter worth approximately $630,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Tarsus Pharmaceuticals Stock Up 0.1 %

Shares of Tarsus Pharmaceuticals stock traded up $0.03 during trading hours on Friday, reaching $50.00. The company's stock had a trading volume of 754,503 shares, compared to its average volume of 688,742. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The stock's fifty day simple moving average is $47.60 and its two-hundred day simple moving average is $48.25. The company has a market capitalization of $1.92 billion, a P/E ratio of -13.12 and a beta of 0.94. Tarsus Pharmaceuticals, Inc. has a one year low of $20.08 and a one year high of $57.28.

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

Insider Activity

In other news, insider Dianne C. Whitfield sold 2,315 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $107,161.35. Following the completion of the sale, the insider now directly owns 50,751 shares of the company's stock, valued at $2,349,263.79. This trade represents a 4.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Bryan Wahl sold 3,341 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $154,654.89. Following the completion of the transaction, the general counsel now directly owns 58,057 shares in the company, valued at $2,687,458.53. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,542 shares of company stock worth $1,581,173 over the last quarter. Insiders own 8.25% of the company's stock.

Tarsus Pharmaceuticals Profile

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.