Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership reduced its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 691,299 shares of the company's stock after selling 17,719 shares during the quarter. Artisan Partners Limited Partnership owned about 1.81% of Tarsus Pharmaceuticals worth $38,277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of 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 raised its position in Tarsus Pharmaceuticals by 14.8% in the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company's stock valued at $138,432,000 after buying an additional 321,552 shares during the last quarter. Ikarian Capital LLC lifted its position in shares of Tarsus Pharmaceuticals by 28.7% during the third quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company's stock valued at $33,886,000 after purchasing an additional 230,000 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Tarsus Pharmaceuticals during the 3rd quarter worth approximately $7,565,000. Finally, Lord Abbett & CO. LLC boosted its position in Tarsus Pharmaceuticals by 28.4% in the third 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 during the last quarter. Institutional investors own 90.01% of the company's stock.

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Insider Transactions at Tarsus Pharmaceuticals

In other news, General Counsel Bryan Wahl sold 3,341 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $154,654.89. Following the transaction, the general counsel now owns 58,057 shares of the company's stock, valued at approximately $2,687,458.53. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bobak R. Azamian sold 7,131 shares of the firm'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 $330,093.99. Following the completion of the transaction, the chief executive officer now directly owns 70,720 shares in the company, valued at $3,273,628.80. This represents a 9.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 Stock Performance

Shares of NASDAQ TARS traded up $2.34 during midday trading on Wednesday, hitting $51.26. 166,591 shares of the stock traded hands, compared to its average volume of 676,467. The firm has a market capitalization of $1.97 billion, a P/E ratio of -13.44 and a beta of 1.05. 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 firm has a 50-day moving average of $49.14 and a two-hundred day moving average of $46.45. 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 announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating 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 company had revenue of $66.41 million during the quarter, compared to the consensus estimate of $58.80 million. On average, equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.