Insider Selling: Tarsus Pharmaceuticals (NASDAQ:TARS) CEO Sells $495,060.00 in Stock

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) CEO Bobak Azamian sold 6,000 shares of the stock in a transaction on Wednesday, December 24th. The stock was sold at an average price of $82.51, for a total value of $495,060.00. Following the transaction, the chief executive officer directly owned 857,991 shares in the company, valued at $70,792,837.41. The trade was a 0.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Tarsus Pharmaceuticals Stock Up 0.4%

NASDAQ TARS traded up $0.36 during midday trading on Tuesday, hitting $82.33. 1,446,636 shares of the company traded hands, compared to its average volume of 639,103. The company’s 50-day simple moving average is $76.34 and its 200-day simple moving average is $59.98. Tarsus Pharmaceuticals, Inc. has a 52 week low of $38.51 and a 52 week high of $85.25. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.29 and a quick ratio of 4.25. The company has a market cap of $3.49 billion, a PE ratio of -40.76 and a beta of 0.74.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. The business had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $114.22 million. Tarsus Pharmaceuticals had a negative net margin of 22.17% and a negative return on equity of 26.29%. As a group, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current year.

Institutional Trading of Tarsus Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted 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 during the period. Osaic Holdings Inc. lifted its stake in Tarsus Pharmaceuticals by 779.1% during the second quarter. Osaic Holdings Inc. now owns 2,778 shares of the company’s stock worth $113,000 after purchasing an additional 2,462 shares in the last quarter. West Wealth Group LLC purchased a new position in shares of Tarsus Pharmaceuticals during the third quarter worth $202,000. Valeo Financial Advisors LLC acquired a new stake in shares of Tarsus Pharmaceuticals in the third quarter valued at $209,000. Finally, Quarry LP raised its holdings in shares of Tarsus Pharmaceuticals by 20.0% in the 1st quarter. Quarry LP now owns 3,599 shares of the company’s stock valued at $185,000 after buying an additional 599 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TARS. Guggenheim increased their price target on Tarsus Pharmaceuticals from $84.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Wednesday, October 8th. Mizuho began coverage on shares of Tarsus Pharmaceuticals in a research report on Thursday, November 20th. They set an “outperform” rating and a $100.00 target price on the stock. Barclays began coverage on shares of Tarsus Pharmaceuticals in a report on Monday, December 8th. They issued an “overweight” rating and a $100.00 price objective on the stock. Finally, Zacks Research raised shares of Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.86.

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.