Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 13,616.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,300 shares of the company’s stock after purchasing an additional 81,700 shares during the period. Canada Pension Plan Investment Board’s holdings in Tarsus Pharmaceuticals were worth $4,557,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in Tarsus Pharmaceuticals by 2,088.8% during the 3rd 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 last quarter. Jennison Associates LLC grew its position in shares of Tarsus Pharmaceuticals by 14.8% during 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 during the last quarter. Barclays PLC grew its position in shares of Tarsus Pharmaceuticals by 345.9% during the third quarter. Barclays PLC now owns 98,663 shares of the company’s stock worth $3,246,000 after acquiring an additional 76,538 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Tarsus Pharmaceuticals by 0.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company’s stock worth $63,499,000 after acquiring an additional 5,565 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at about $1,107,000. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Trading Up 1.9 %

Shares of Tarsus Pharmaceuticals stock opened at $49.44 on Wednesday. The business has a fifty day simple moving average of $47.63 and a 200-day simple moving average of $48.01. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $57.28. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -12.98 and a beta of 0.94. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative net margin of 103.64% and a negative return on equity of 55.86%. The company had revenue of $66.41 million during the quarter, compared to analyst estimates of $58.80 million. On average, equities analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Insider Activity

In other news, CEO Bobak R. Azamian sold 6,000 shares of Tarsus Pharmaceuticals 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 transaction, the chief executive officer now directly owns 824,106 shares of the company’s stock, valued at $41,205,300. This trade represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dianne C. Whitfield sold 2,137 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $107,085.07. Following the completion of the sale, the insider now owns 46,355 shares of the company’s stock, valued at approximately $2,322,849.05. This trade represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,542 shares of company stock worth $1,581,173. Insiders own 8.25% of the company’s stock.

Analyst Ratings Changes

TARS has been the subject of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $73.00 target price on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Jefferies Financial Group raised their target price on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Barclays reduced their price target on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $78.00 price target (up from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Finally, Oppenheimer upped their price objective on shares of Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $63.67.

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.