Lido Advisors LLC Purchases New Shares in Tarsus Pharmaceuticals, Inc. $TARS

Lido Advisors LLC acquired a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 24,374 shares of the company’s stock, valued at approximately $1,710,000.

A number of other large investors have also modified their holdings of TARS. First Trust Advisors LP increased its stake in shares of Tarsus Pharmaceuticals by 10.0% in the 1st quarter. First Trust Advisors LP now owns 122,911 shares of the company’s stock valued at $8,622,000 after purchasing an additional 11,141 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Tarsus Pharmaceuticals by 367.1% in the first quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock valued at $50,000 after purchasing an additional 558 shares during the period. Parallel Advisors LLC grew its holdings in Tarsus Pharmaceuticals by 139.2% in the first quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after purchasing an additional 291 shares during the period. Swiss National Bank increased its position in shares of Tarsus Pharmaceuticals by 0.8% in the first quarter. Swiss National Bank now owns 62,933 shares of the company’s stock valued at $4,415,000 after buying an additional 500 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Tarsus Pharmaceuticals by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 131,612 shares of the company’s stock valued at $9,242,000 after buying an additional 1,232 shares in the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

Shares of Tarsus Pharmaceuticals stock opened at $58.66 on Monday. The stock has a market capitalization of $2.52 billion, a P/E ratio of -51.46 and a beta of 0.50. The business has a 50 day simple moving average of $61.54 and a two-hundred day simple moving average of $65.92. Tarsus Pharmaceuticals, Inc. has a 12 month low of $38.51 and a 12 month high of $85.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.74 and a quick ratio of 3.71.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%.The firm had revenue of $162.05 million for the quarter, compared to analyst estimates of $149.60 million. As a group, analysts predict that Tarsus Pharmaceuticals, Inc. will post -1.04 EPS for the current fiscal year.

Insider Buying and Selling at Tarsus Pharmaceuticals

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 sale, the chief executive officer 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total transaction of $877,436.20. Following the sale, the insider directly owned 56,801 shares of the company’s stock, valued at $3,462,020.95. The trade was a 20.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 39,850 shares of company stock worth $2,452,821. Company insiders own 9.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TARS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating and issued a $88.00 price target on shares of Tarsus Pharmaceuticals in a report on Thursday, July 9th. Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a report on Friday, April 24th. They set an “outperform” rating and a $98.00 price objective on the stock. Finally, Guggenheim dropped their target price on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Tarsus Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $90.50.

Tarsus Pharmaceuticals 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.