Magnetar Financial LLC Takes $596,000 Position in Tarsus Pharmaceuticals, Inc. $TARS

Magnetar Financial LLC purchased a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,721 shares of the company’s stock, valued at approximately $596,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TARS. Mirae Asset Global Investments Co. Ltd. grew its stake in Tarsus Pharmaceuticals by 26.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,623 shares of the company’s stock worth $66,000 after buying an additional 339 shares in the last quarter. Quarry LP boosted its position in shares of Tarsus Pharmaceuticals by 20.0% during the 1st quarter. Quarry LP now owns 3,599 shares of the company’s stock worth $185,000 after acquiring an additional 599 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the 1st quarter worth approximately $189,000. Allianz Asset Management GmbH bought a new position in Tarsus Pharmaceuticals in the second quarter valued at approximately $227,000. Finally, FORA Capital LLC acquired a new position in Tarsus Pharmaceuticals during the first quarter valued at approximately $271,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Analyst Ratings Changes

TARS has been the topic of a number of research analyst reports. HC Wainwright raised their target price on Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, October 20th. Zacks Research upgraded Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Wednesday, October 8th. Guggenheim boosted their target price on Tarsus Pharmaceuticals from $84.00 to $87.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $51.00 target price on shares of Tarsus Pharmaceuticals in a report on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $74.14.

Insider Activity at Tarsus Pharmaceuticals

In other news, 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 transaction, the chief executive officer owned 812,106 shares in the company, valued at approximately $44,966,309.22. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Phd Link sold 27,116 shares of the business’s stock in a transaction on Monday, September 8th. The stock was 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 directly owned 143,332 shares in the company, valued at approximately $8,169,924. This represents a 15.91% decrease in their position. The SEC filing for this sale provides additional information. 8.97% of the stock is owned by company insiders.

Tarsus Pharmaceuticals Trading Up 3.1%

Shares of TARS stock opened at $82.11 on Tuesday. The firm has a market capitalization of $3.49 billion, a P/E ratio of -40.65 and a beta of 0.82. Tarsus Pharmaceuticals, Inc. has a twelve month low of $38.51 and a twelve month high of $82.42. The company has a quick ratio of 4.25, a current ratio of 4.29 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $67.31 and its 200 day simple moving average is $53.34.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its earnings results on Tuesday, November 4th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.05. The firm had revenue of $118.70 million during the quarter, compared to the consensus estimate of $114.22 million. Tarsus Pharmaceuticals had a negative return on equity of 26.29% and a negative net margin of 22.17%. As a group, sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

About Tarsus Pharmaceuticals

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.