Seven Fleet Capital Management LP Increases Stock Holdings in Tarsus Pharmaceuticals, Inc. $TARS

Seven Fleet Capital Management LP boosted its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 340.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,800 shares of the company’s stock after purchasing an additional 15,300 shares during the quarter. Seven Fleet Capital Management LP’s holdings in Tarsus Pharmaceuticals were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TARS. Parallel Advisors LLC grew its holdings in Tarsus Pharmaceuticals by 139.2% in the 1st quarter. Parallel Advisors LLC now owns 500 shares of the company’s stock valued at $35,000 after buying an additional 291 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Tarsus Pharmaceuticals by 367.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 710 shares of the company’s stock worth $50,000 after acquiring an additional 558 shares during the period. Comerica Bank lifted its holdings in shares of Tarsus Pharmaceuticals by 470.0% during the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after acquiring an additional 705 shares during the period. Truvestments Capital LLC boosted its position in shares of Tarsus Pharmaceuticals by 106.1% in the fourth quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock worth $74,000 after acquiring an additional 468 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Tarsus Pharmaceuticals by 15.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock worth $105,000 after acquiring an additional 172 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jeffrey S. Farrow sold 14,396 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 56,801 shares of the company’s stock, valued at approximately $3,462,020.95. The trade was a 20.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Bobak R. Azamian sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total value of $615,500.00. Following the completion of the transaction, the chief executive officer owned 847,991 shares of the company’s stock, valued at approximately $52,193,846.05. This represents a 1.17% 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. In the last ninety days, insiders have sold 39,850 shares of company stock worth $2,452,821. Company insiders own 9.64% of the company’s stock.

Tarsus Pharmaceuticals Trading Down 0.8%

NASDAQ TARS opened at $59.04 on Friday. Tarsus Pharmaceuticals, Inc. has a one year low of $38.51 and a one year high of $85.25. The company’s 50 day moving average price is $61.17 and its 200 day moving average price is $65.34. 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 has a market capitalization of $2.54 billion, a price-to-earnings ratio of -51.79 and a beta of 0.50.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share 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 firm had revenue of $162.05 million for the quarter, compared to analysts’ expectations of $149.60 million. On average, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -1.04 EPS for the current year.

Analysts Set New Price Targets

TARS has been the subject of a number of recent analyst reports. Oppenheimer started coverage on shares of Tarsus Pharmaceuticals in a research report on Friday, April 24th. They set an “outperform” rating and a $98.00 price target for the company. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. HC Wainwright reissued a “buy” rating and set a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Thursday, July 9th. Mizuho lowered their price objective on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Guggenheim dropped their price objective on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.17.

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.