Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)’s stock price dropped 6.3% during mid-day trading on Thursday . The company traded as low as $27.39 and last traded at $27.80. Approximately 180 shares changed hands during trading, a decline of 100% from the average daily volume of 46,272 shares. The stock had previously closed at $29.68.
Several research analysts recently commented on the stock. Raymond James raised their price target on shares of Tarsus Pharmaceuticals from $50.00 to $65.00 and gave the company a “strong-buy” rating in a report on Thursday, October 7th. Jefferies Financial Group upped their target price on Tarsus Pharmaceuticals from $35.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, June 22nd. Finally, Zacks Investment Research lowered Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $41.80.
The firm has a market cap of $586.15 million and a P/E ratio of -6.44. The firm’s 50-day moving average price is $24.02 and its 200 day moving average price is $27.78.
In other news, CEO Bobak R. Azamian sold 1,370 shares of the stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $25.00, for a total transaction of $34,250.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Ackermann sold 5,833 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $25.24, for a total value of $147,224.92. Following the transaction, the director now owns 1,221,515 shares of the company’s stock, valued at approximately $30,831,038.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,492 shares of company stock valued at $431,566. Insiders own 33.08% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its position in Tarsus Pharmaceuticals by 78.2% during the 1st quarter. Royal Bank of Canada now owns 1,470 shares of the company’s stock worth $48,000 after acquiring an additional 645 shares during the period. UBS Group AG raised its stake in shares of Tarsus Pharmaceuticals by 88.4% during the first quarter. UBS Group AG now owns 2,496 shares of the company’s stock valued at $80,000 after purchasing an additional 1,171 shares in the last quarter. Deutsche Bank AG grew its position in Tarsus Pharmaceuticals by 41.6% in the 2nd quarter. Deutsche Bank AG now owns 5,574 shares of the company’s stock valued at $161,000 after buying an additional 1,638 shares in the last quarter. Virtus ETF Advisers LLC acquired a new position in Tarsus Pharmaceuticals during the 2nd quarter valued at about $183,000. Finally, New York State Common Retirement Fund raised its position in shares of Tarsus Pharmaceuticals by 68.6% during the 1st quarter. New York State Common Retirement Fund now owns 5,900 shares of the company’s stock worth $190,000 after buying an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 63.50% of the company’s stock.
About Tarsus Pharmaceuticals (NASDAQ:TARS)
Tarsus Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for ophthalmic conditions. Its lead product candidate is TP-03, a novel therapeutic that is in Phase IIb/III for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.
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