Bobak Azamian Sells 10,000 Shares of Tarsus Pharmaceuticals (NASDAQ:TARS) Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak Azamian sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total transaction of $615,500.00. Following the completion of the sale, the chief executive officer directly owned 847,991 shares of the company’s stock, valued at approximately $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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tarsus Pharmaceuticals Stock Performance

Shares of NASDAQ:TARS opened at $66.17 on Wednesday. The company’s 50 day moving average price is $62.87 and its two-hundred day moving average price is $69.08. Tarsus Pharmaceuticals, Inc. has a 12-month low of $38.51 and a 12-month high of $85.25. The firm has a market cap of $2.85 billion, a PE ratio of -58.04 and a beta of 0.49. The company has a quick ratio of 3.71, a current ratio of 3.74 and a debt-to-equity ratio of 0.21.

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, beating the consensus estimate 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 business had revenue of $162.05 million during the quarter, compared to analysts’ expectations of $149.60 million. Equities research analysts predict that Tarsus Pharmaceuticals, Inc. will post -0.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen cut Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday. 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 objective for the company. Lifesci Capital upgraded shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, March 16th. HC Wainwright reissued a “buy” rating and issued a $88.00 target price on shares of Tarsus Pharmaceuticals in a report on Monday, May 4th. Finally, Guggenheim boosted their target price on shares of Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Two 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Institutional Trading of Tarsus Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC grew its position 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 acquiring an additional 291 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Tarsus Pharmaceuticals by 367.1% in the 1st 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 in the last quarter. Comerica Bank boosted its stake in shares of Tarsus Pharmaceuticals by 470.0% in the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock valued at $70,000 after purchasing an additional 705 shares in the last quarter. Truvestments Capital LLC grew its holdings in shares of Tarsus Pharmaceuticals by 106.1% during the 4th quarter. Truvestments Capital LLC now owns 909 shares of the company’s stock valued at $74,000 after purchasing an additional 468 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Tarsus Pharmaceuticals by 15.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,283 shares of the company’s stock valued at $105,000 after purchasing an additional 172 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors.

About Tarsus Pharmaceuticals

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.