Wellington Management Group LLP Has $7.57 Million Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Wellington Management Group LLP lessened its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 5.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 136,795 shares of the company's stock after selling 8,552 shares during the period. Wellington Management Group LLP owned 0.36% of Tarsus Pharmaceuticals worth $7,574,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Crowley Wealth Management Inc. acquired a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at about $25,000. R Squared Ltd bought a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter valued at approximately $53,000. HighTower Advisors LLC acquired a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter valued at approximately $207,000. Victory Capital Management Inc. bought a new position in Tarsus Pharmaceuticals in the 4th quarter worth approximately $223,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Tarsus Pharmaceuticals during the 4th quarter worth $227,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. HC Wainwright reissued a "buy" rating and issued a $73.00 target price on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Jefferies Financial Group boosted their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Barclays reduced their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock 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. Finally, Guggenheim reaffirmed a "buy" rating and issued a $78.00 price objective (up from $75.00) on shares of Tarsus Pharmaceuticals in a research note on Monday, February 24th. One research 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, Tarsus Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $63.67.

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Tarsus Pharmaceuticals Trading Up 0.9 %

NASDAQ:TARS traded up $0.46 during trading hours on Tuesday, hitting $49.18. The stock had a trading volume of 147,948 shares, compared to its average volume of 679,424. The business's 50 day moving average is $48.00 and its 200-day moving average is $47.43. 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 company has a market cap of $1.89 billion, a price-to-earnings ratio of -12.91 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 the consensus estimate 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 business had revenue of $66.41 million for the quarter, compared to the consensus estimate of $58.80 million. Sell-side analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Activity at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 7,131 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $330,093.99. Following the completion of the sale, the chief executive officer now owns 70,720 shares of the company's stock, valued at $3,273,628.80. This represents a 9.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the general counsel now directly owns 51,712 shares in the company, valued at $2,591,288.32. This represents a 5.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,542 shares of company stock worth $1,581,173. 8.25% of the stock is owned by company 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.