Wellington Management Group LLP Has $7.57 Million Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Wellington Management Group LLP lowered its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 5.9% during the fourth quarter, HoldingsChannel reports. The firm owned 136,795 shares of the company’s stock after selling 8,552 shares during the quarter. Wellington Management Group LLP’s holdings in Tarsus Pharmaceuticals were worth $7,574,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TARS. Crowley Wealth Management Inc. acquired a new stake in Tarsus Pharmaceuticals during the 4th quarter worth approximately $25,000. R Squared Ltd bought a new stake in shares of Tarsus Pharmaceuticals during the fourth quarter worth $53,000. FMR LLC raised its holdings in shares of Tarsus Pharmaceuticals by 236.6% during the third quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after acquiring an additional 3,537 shares during the period. HighTower Advisors LLC bought a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at $207,000. Finally, Victory Capital Management Inc. acquired a new position in Tarsus Pharmaceuticals in the 4th quarter worth $223,000. Institutional investors own 90.01% of the company’s stock.

Insider Activity

In other Tarsus Pharmaceuticals news, insider Dianne C. Whitfield sold 2,315 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total transaction of $107,161.35. Following the completion of the transaction, the insider now directly owns 50,751 shares in the company, valued at $2,349,263.79. The trade was a 4.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Bobak R. Azamian sold 8,534 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $427,638.74. Following the sale, the chief executive officer now owns 53,635 shares of the company’s stock, valued at approximately $2,687,649.85. This represents a 13.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,542 shares of company stock worth $1,581,173. Corporate insiders own 8.25% of the company’s stock.

Tarsus Pharmaceuticals Stock Down 3.8 %

TARS stock opened at $44.12 on Friday. The firm has a market capitalization of $1.69 billion, a PE ratio of -11.58 and a beta of 0.94. The business’s 50 day simple moving average is $48.33 and its 200 day simple moving average is $47.12. Tarsus Pharmaceuticals, Inc. has a 1-year low of $20.08 and a 1-year high of $57.28. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The firm had revenue of $66.41 million for the quarter, compared to analyst estimates of $58.80 million. As a group, research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on TARS. Jefferies Financial Group lifted their price target on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Oppenheimer lifted their target price on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. 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 reaffirmed a “buy” rating and issued a $78.00 target price (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. Finally, HC Wainwright restated a “buy” rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $63.67.

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.