Tarsus Pharmaceuticals (NASDAQ:TARS) Stock Price Down 5.1% – Here’s What Happened

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price traded down 5.1% during mid-day trading on Thursday . The stock traded as low as $66.15 and last traded at $64.2490. Approximately 60,286 shares were traded during mid-day trading, a decline of 91% from the average session volume of 677,016 shares. The stock had previously closed at $67.73.

Wall Street Analysts Forecast Growth

TARS has been the subject of a number of research reports. Lifesci Capital raised Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, March 16th. HC Wainwright reiterated a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research note on Friday, April 24th. They set an “outperform” rating and a $98.00 price target for the company. Finally, Wall Street Zen upgraded shares of Tarsus Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tarsus Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $90.67.

Tarsus Pharmaceuticals Stock Performance

The firm has a market cap of $2.50 billion, a P/E ratio of -51.00 and a beta of 0.50. The company has a current ratio of 3.74, a quick ratio of 3.71 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average is $62.57 and its two-hundred day moving average is $67.71.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.24. The firm had revenue of $162.05 million during the quarter, compared to analyst estimates of $149.60 million. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%. As a group, equities analysts predict that Tarsus Pharmaceuticals, Inc. will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling

In other Tarsus Pharmaceuticals news, CEO Bobak R. Azamian sold 10,000 shares of Tarsus Pharmaceuticals stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total transaction of $615,500.00. Following the transaction, the chief executive officer directly owned 847,991 shares of the company’s stock, valued at $52,193,846.05. The trade was a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William J. Phd Link sold 12,500 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.12, for a total transaction of $776,500.00. Following the completion of the sale, the director owned 106,786 shares of the company’s stock, valued at approximately $6,633,546.32. The trade was a 10.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 39,850 shares of company stock worth $2,452,821. 9.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tarsus Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Tarsus Pharmaceuticals by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock valued at $1,137,000 after buying an additional 1,217 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Tarsus Pharmaceuticals by 2.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock valued at $3,659,000 after acquiring an additional 1,394 shares in the last quarter. Jane Street Group LLC grew its stake in Tarsus Pharmaceuticals by 105.8% during the first quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock valued at $537,000 after acquiring an additional 190,000 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Tarsus Pharmaceuticals by 402.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock worth $5,696,000 after acquiring an additional 112,637 shares during the period. Finally, Invesco Ltd. increased its holdings in Tarsus Pharmaceuticals by 12.3% during the 2nd quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock worth $37,614,000 after acquiring an additional 101,978 shares during the period. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a clinical?stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro?effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early?stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.