KLP Kapitalforvaltning AS Acquires 1,500 Shares of Tarsus Pharmaceuticals, Inc. $TARS

KLP Kapitalforvaltning AS increased its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 27.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,900 shares of the company’s stock after buying an additional 1,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Tarsus Pharmaceuticals were worth $280,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TARS. Driehaus Capital Management LLC bought a new position in shares of Tarsus Pharmaceuticals during the first quarter valued at $36,876,000. Adage Capital Partners GP L.L.C. acquired a new stake in Tarsus Pharmaceuticals in the first quarter valued at $26,199,000. Nuveen LLC acquired a new stake in Tarsus Pharmaceuticals in the first quarter valued at $13,589,000. Jane Street Group LLC raised its position in Tarsus Pharmaceuticals by 105.8% during the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock worth $537,000 after purchasing an additional 190,000 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Tarsus Pharmaceuticals by 6,112.1% during the 1st quarter. Russell Investments Group Ltd. now owns 134,617 shares of the company’s stock worth $6,915,000 after buying an additional 132,450 shares during the period. 90.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Wednesday, October 8th. Zacks Research upgraded Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Tarsus Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock opened at $72.93 on Monday. The business has a 50-day moving average price of $58.73 and a two-hundred day moving average price of $48.99. Tarsus Pharmaceuticals, Inc. has a 1-year low of $35.84 and a 1-year high of $76.81. The company has a current ratio of 5.26, a quick ratio of 5.21 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.08 billion, a P/E ratio of -31.30 and a beta of 0.81.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.15). Tarsus Pharmaceuticals had a negative net margin of 31.13% and a negative return on equity of 32.36%. The business had revenue of $102.66 million during the quarter, compared to analyst estimates of $95.81 million. As a group, analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insider Buying and Selling

In other news, Director William J. Phd Link sold 27,116 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $57.00, for a total transaction of $1,545,612.00. Following the completion of the sale, the director owned 143,332 shares of the company’s stock, valued at $8,169,924. This trade represents a 15.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $55.37, for a total transaction of $332,220.00. Following the completion of the sale, the chief executive officer owned 812,106 shares of the company’s stock, valued at $44,966,309.22. This represents a 0.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 39,116 shares of company stock worth $2,177,832 over the last 90 days. Company insiders own 8.97% of the company’s stock.

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.