Tri Locum Partners LP Invests $17.72 Million in Tarsus Pharmaceuticals, Inc. $TARS

Tri Locum Partners LP acquired a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) in the first quarter, HoldingsChannel reports. The fund acquired 252,588 shares of the company’s stock, valued at approximately $17,719,000. Tarsus Pharmaceuticals accounts for 2.5% of Tri Locum Partners LP’s holdings, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TARS. Deep Track Capital LP increased its stake in shares of Tarsus Pharmaceuticals by 71.4% in the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $178,290,000 after acquiring an additional 1,250,000 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Tarsus Pharmaceuticals by 34.1% in the 4th quarter. Janus Henderson Group PLC now owns 1,930,325 shares of the company’s stock valued at $158,062,000 after purchasing an additional 491,326 shares during the period. M&T Bank Corp raised its position in Tarsus Pharmaceuticals by 11,730.0% in the 4th quarter. M&T Bank Corp now owns 437,119 shares of the company’s stock valued at $35,791,000 after buying an additional 433,424 shares during the last quarter. MPM Bioimpact LLC acquired a new stake in shares of Tarsus Pharmaceuticals in the second quarter valued at approximately $13,834,000. Finally, Franklin Resources Inc. increased its stake in Tarsus Pharmaceuticals by 1,419.3% in the 4th quarter. Franklin Resources Inc. now owns 337,016 shares of the company’s stock valued at $27,595,000 after buying an additional 314,833 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on TARS shares. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings reissued 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 objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Oppenheimer assumed coverage on Tarsus Pharmaceuticals in a research note on Friday, April 24th. They set an “outperform” rating and a $98.00 target price for the company. Finally, Guggenheim reduced their price target on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.50.

Tarsus Pharmaceuticals Stock Performance

NASDAQ TARS opened at $58.52 on Thursday. The stock has a market cap of $2.52 billion, a PE ratio of -51.33 and a beta of 0.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.71 and a current ratio of 3.74. The firm’s fifty day moving average price is $61.31 and its two-hundred day moving average price is $65.51. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $38.51 and a fifty-two week high of $85.25.

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

Insider Activity

In related news, Director Katherine Goodrich sold 2,954 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the sale, the director owned 2,233 shares in the company, valued at $138,624.64. This represents a 56.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $62.12, for a total value of $776,500.00. Following the sale, the director directly owned 106,786 shares of the company’s stock, valued at $6,633,546.32. This represents a 10.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 39,850 shares of company stock valued at $2,452,821. Company insiders own 9.64% of the company’s stock.

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.