Wellington Management Group LLP Purchases 24,117 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Wellington Management Group LLP lifted its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 149.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,202 shares of the company’s stock after buying an additional 24,117 shares during the period. Wellington Management Group LLP owned approximately 0.09% of Tarsus Pharmaceuticals worth $2,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Tarsus Pharmaceuticals during the second quarter valued at $242,705,000. RTW Investments LP boosted its position in Tarsus Pharmaceuticals by 5.0% in the fourth quarter. RTW Investments LP now owns 3,335,320 shares of the company’s stock worth $273,096,000 after purchasing an additional 157,884 shares during the last quarter. Deep Track Capital LP grew its stake in shares of Tarsus Pharmaceuticals by 71.4% during the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock valued at $178,290,000 after purchasing an additional 1,250,000 shares during the period. Jupiter Topco LLC bought a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at about $176,834,000. Finally, Janus Henderson Group PLC increased its position in shares of Tarsus Pharmaceuticals by 16.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,240,963 shares of the company’s stock valued at $157,223,000 after purchasing an additional 310,638 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Guggenheim lowered their price objective on shares of Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a report on Friday, July 17th. Oppenheimer upped their target price on shares of Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Mizuho decreased their price target on shares of Tarsus Pharmaceuticals from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Finally, Wall Street Zen cut shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.57.

Tarsus Pharmaceuticals Price Performance

NASDAQ TARS opened at $81.12 on Friday. Tarsus Pharmaceuticals, Inc. has a 12 month low of $48.20 and a 12 month high of $91.53. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of -74.42 and a beta of 0.54. The company’s 50 day moving average is $67.84 and its two-hundred day moving average is $66.55. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.24). The firm had revenue of $173.91 million during the quarter, compared to the consensus estimate of $169.65 million. Tarsus Pharmaceuticals had a negative return on equity of 13.53% and a negative net margin of 7.67%. As a group, research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -2.4 earnings per share for the current year.

Insider Activity at Tarsus Pharmaceuticals

In other Tarsus Pharmaceuticals news, Director Katherine Goodrich sold 2,954 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.08, for a total value of $183,384.32. Following the completion of the sale, the director owned 2,233 shares in the company, valued at approximately $138,624.64. This represents a 56.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 firm’s stock in a transaction dated Monday, June 15th. The shares were 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 in the company, valued at approximately $6,633,546.32. This represents a 10.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 75,381 shares of company stock worth $5,477,298 in the last 90 days. 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.