Parkman Healthcare Partners LLC bought a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 150,000 shares of the company’s stock, valued at approximately $9,441,000.
A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Tarsus Pharmaceuticals during the second quarter worth about $242,705,000. Deep Track Capital LP increased its holdings in shares of Tarsus Pharmaceuticals by 71.4% in the 3rd quarter. Deep Track Capital LP now owns 3,000,000 shares of the company’s stock worth $178,290,000 after acquiring an additional 1,250,000 shares during the period. Janus Henderson Group PLC lifted its position in Tarsus Pharmaceuticals by 34.1% in the 4th quarter. Janus Henderson Group PLC now owns 1,930,325 shares of the company’s stock valued at $158,062,000 after purchasing an additional 491,326 shares during the last quarter. Bank of America Corp DE lifted its position in Tarsus Pharmaceuticals by 57.5% in the 1st quarter. Bank of America Corp DE now owns 1,194,377 shares of the company’s stock valued at $83,786,000 after purchasing an additional 436,271 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in Tarsus Pharmaceuticals during the 2nd quarter valued at about $23,249,000. 90.01% of the stock is currently owned by institutional investors.
Tarsus Pharmaceuticals Stock Up 0.2%
TARS stock opened at $72.81 on Tuesday. Tarsus Pharmaceuticals, Inc. has a 52 week low of $48.20 and a 52 week high of $85.25. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -66.80 and a beta of 0.53. The firm’s 50-day moving average is $63.67 and its two-hundred day moving average is $65.12. The company has a current ratio of 3.20, a quick ratio of 3.17 and a debt-to-equity ratio of 0.21.
Insider Transactions at Tarsus Pharmaceuticals
In other Tarsus Pharmaceuticals news, Director Katherine Goodrich sold 2,954 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $62.08, for a total transaction of $183,384.32. Following the completion of the transaction, the director directly owned 2,233 shares of the company’s stock, valued at approximately $138,624.64. This trade represents a 56.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Bobak R. Azamian sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $61.55, for a total value of $615,500.00. Following the completion of the sale, the chief executive officer owned 847,991 shares of the company’s stock, valued at approximately $52,193,846.05. This trade represents a 1.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 39,850 shares of company stock worth $2,452,821 in the last three months. 9.64% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Friday, July 17th. HC Wainwright reiterated a “buy” rating and set a $88.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Oppenheimer increased their price objective on Tarsus Pharmaceuticals from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th. Wall Street Zen downgraded Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Guggenheim decreased their price target on Tarsus Pharmaceuticals from $90.00 to $89.00 and set a “buy” rating for the company in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.50.
Read Our Latest Research Report on TARS
Tarsus Pharmaceuticals Company Profile
Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.
In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.
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