Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 13,616.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,300 shares of the company's stock after purchasing an additional 81,700 shares during the quarter. Canada Pension Plan Investment Board owned about 0.22% of Tarsus Pharmaceuticals worth $4,557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Tarsus Pharmaceuticals by 2,088.8% during the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company's stock worth $14,477,000 after purchasing an additional 420,057 shares during the period. Jennison Associates LLC increased its holdings in shares of Tarsus Pharmaceuticals by 14.8% during the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company's stock worth $138,432,000 after buying an additional 321,552 shares during the last quarter. Invesco Ltd. raised its position in shares of Tarsus Pharmaceuticals by 36.7% in the 4th quarter. Invesco Ltd. now owns 932,115 shares of the company's stock worth $51,611,000 after buying an additional 250,018 shares during the period. Atika Capital Management LLC acquired a new position in Tarsus Pharmaceuticals in the fourth quarter valued at $9,812,000. Finally, Lord Abbett & CO. LLC boosted its holdings in Tarsus Pharmaceuticals by 28.4% in the third quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company's stock valued at $19,565,000 after acquiring an additional 131,636 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

Tarsus Pharmaceuticals Trading Up 1.9 %

TARS opened at $49.44 on Wednesday. The firm's 50 day moving average is $47.63 and its 200-day moving average is $48.01. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.90 billion, a P/E ratio of -12.98 and a beta of 0.94.

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

Analyst Ratings Changes

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

Insider Transactions at Tarsus Pharmaceuticals

In related news, General Counsel Bryan Wahl sold 3,341 shares of Tarsus Pharmaceuticals stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $154,654.89. Following the completion of the sale, the general counsel now owns 58,057 shares in the company, valued at approximately $2,687,458.53. The trade was a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dianne C. Whitfield sold 2,137 shares of the company'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 $107,085.07. Following the completion of the sale, the insider now directly owns 46,355 shares in the company, valued at $2,322,849.05. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety 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.

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.

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