Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 42.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,777 shares of the company’s stock after acquiring an additional 13,848 shares during the quarter. The Manufacturers Life Insurance Company owned 0.12% of Tarsus Pharmaceuticals worth $2,590,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Lord Abbett & CO. LLC boosted its position in shares of Tarsus Pharmaceuticals by 115.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,279,987 shares of the company’s stock valued at $70,873,000 after purchasing an additional 685,111 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Tarsus Pharmaceuticals by 2,088.8% in the third quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company’s stock worth $14,477,000 after buying an additional 420,057 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in shares of Tarsus Pharmaceuticals by 5,636.3% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 404,237 shares of the company’s stock worth $22,383,000 after acquiring an additional 397,190 shares in the last quarter. Jennison Associates LLC increased its position in shares of Tarsus Pharmaceuticals by 14.8% in the fourth quarter. Jennison Associates LLC now owns 2,500,132 shares of the company’s stock worth $138,432,000 after acquiring an additional 321,552 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Tarsus Pharmaceuticals by 36.7% during the fourth quarter. Invesco Ltd. now owns 932,115 shares of the company’s stock valued at $51,611,000 after acquiring an additional 250,018 shares during the period. 90.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Bryan Wahl sold 3,341 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total transaction of $154,654.89. Following the completion of the sale, the general counsel now owns 58,057 shares in the company, valued at approximately $2,687,458.53. This represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Bobak R. Azamian sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 824,106 shares in the company, valued at $41,205,300. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,542 shares of company stock worth $1,581,173. 8.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TARS. HC Wainwright reiterated a “buy” rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Guggenheim lifted their price target on Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Oppenheimer increased their price objective on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group lifted their target price on Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Finally, Jefferies Financial Group increased their price target on shares of Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $66.33.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $44.87 on Friday. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $57.28. The stock’s 50-day moving average is $48.26 and its two-hundred day moving average is $49.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The firm has a market cap of $1.89 billion, a P/E ratio of -11.78 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.05. The firm had revenue of $78.34 million for the quarter, compared to the consensus estimate of $72.50 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. Analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Tarsus Pharmaceuticals Company 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.