Jennison Associates LLC Sells 517,945 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Jennison Associates LLC lessened its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 23.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,712,124 shares of the company’s stock after selling 517,945 shares during the quarter. Jennison Associates LLC’s holdings in Tarsus Pharmaceuticals were worth $120,106,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TARS. Rockefeller Capital Management L.P. lifted its holdings 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 buying an additional 172 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in Tarsus Pharmaceuticals by 1.1% during the 4th quarter. State of Wisconsin Investment Board now owns 31,912 shares of the company’s stock worth $2,613,000 after acquiring an additional 332 shares during the period. Federated Hermes Inc. increased its holdings in Tarsus Pharmaceuticals by 0.6% during the 2nd quarter. Federated Hermes Inc. now owns 55,021 shares of the company’s stock worth $2,229,000 after acquiring an additional 339 shares during the period. Valeo Financial Advisors LLC lifted its stake in Tarsus Pharmaceuticals by 11.1% in the 4th quarter. Valeo Financial Advisors LLC now owns 3,915 shares of the company’s stock worth $321,000 after purchasing an additional 392 shares in the last quarter. Finally, Creative Planning lifted its stake in Tarsus Pharmaceuticals by 3.3% in the 3rd quarter. Creative Planning now owns 12,367 shares of the company’s stock worth $735,000 after purchasing an additional 393 shares in the last quarter. 90.01% of the stock is currently owned by institutional investors.

Tarsus Pharmaceuticals Stock Up 3.7%

TARS stock opened at $59.85 on Friday. The company has a current ratio of 3.74, a quick ratio of 3.71 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $62.01 and its 200 day moving average is $66.86. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -52.50 and a beta of 0.50. Tarsus Pharmaceuticals, Inc. has a 1-year low of $38.51 and a 1-year high of $85.25.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its 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 business had revenue of $162.05 million for the quarter, compared to the consensus estimate of $149.60 million. Sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity at Tarsus Pharmaceuticals

In other news, Director Katherine Goodrich sold 2,954 shares of Tarsus Pharmaceuticals stock in a transaction on Monday, June 15th. The shares were sold at an average price of $62.08, for a total transaction of $183,384.32. Following the completion of the sale, the director directly owned 2,233 shares of the company’s stock, valued at approximately $138,624.64. The trade was a 56.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $61.55, for a total transaction 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 $52,193,846.05. This trade represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 39,850 shares of company stock worth $2,452,821 over the last quarter. 9.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TARS has been the subject of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $88.00 price target on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Wall Street Zen lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Oppenheimer initiated coverage on Tarsus Pharmaceuticals in a research note on Friday, April 24th. They set an “outperform” rating and a $98.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

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.