Ally Bridge Group NY LLC Has $9.59 Million Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Ally Bridge Group NY LLC trimmed its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 46.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 173,144 shares of the company’s stock after selling 148,754 shares during the quarter. Tarsus Pharmaceuticals makes up about 8.0% of Ally Bridge Group NY LLC’s holdings, making the stock its 2nd largest position. Ally Bridge Group NY LLC’s holdings in Tarsus Pharmaceuticals were worth $9,587,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at $25,000. R Squared Ltd bought a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth $53,000. Quarry LP purchased a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter valued at about $166,000. HighTower Advisors LLC bought a new position in shares of Tarsus Pharmaceuticals during the fourth quarter valued at about $207,000. Finally, Summit Investment Advisors Inc. boosted its holdings in Tarsus Pharmaceuticals by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company’s stock worth $213,000 after purchasing an additional 244 shares during the last quarter. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TARS has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and issued a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Oppenheimer upped their target price on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating and set a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Jefferies Financial Group boosted their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, Barclays decreased their target price on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $63.67.

Insider Buying and Selling

In related news, CEO Bobak R. Azamian sold 7,131 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $330,093.99. Following the completion of the transaction, the chief executive officer now directly owns 70,720 shares of the company’s stock, valued at approximately $3,273,628.80. This trade represents a 9.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dianne C. Whitfield sold 2,137 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $107,085.07. Following the sale, the insider now directly owns 46,355 shares in the company, valued at $2,322,849.05. The trade was a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,542 shares of company stock valued at $1,581,173. 8.25% of the stock is owned by insiders.

Tarsus Pharmaceuticals Trading Down 3.1 %

NASDAQ:TARS opened at $50.30 on Friday. Tarsus Pharmaceuticals, Inc. has a 12 month low of $20.08 and a 12 month high of $57.28. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The firm’s 50 day moving average is $47.82 and its 200 day moving average is $48.67. The stock has a market capitalization of $1.93 billion, a PE ratio of -13.20 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Thursday, May 1st. The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.05. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. Sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Tarsus Pharmaceuticals Profile

Tarsus Pharmaceuticals, Inc, a commercial stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for eye care in the United States. The company's lead product candidate is XDEMVY, a novel therapeutic for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.