abrdn plc Purchases New Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

abrdn plc acquired a new position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 72,032 shares of the company’s stock, valued at approximately $1,459,000. abrdn plc owned approximately 0.22% of Tarsus Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in TARS. China Universal Asset Management Co. Ltd. grew its holdings in shares of Tarsus Pharmaceuticals by 362.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,832 shares of the company’s stock valued at $78,000 after buying an additional 3,004 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tarsus Pharmaceuticals by 65.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,306 shares of the company’s stock valued at $94,000 after purchasing an additional 2,092 shares during the period. Raymond James & Associates purchased a new stake in shares of Tarsus Pharmaceuticals in the third quarter worth approximately $180,000. Ieq Capital LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the third quarter worth approximately $193,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Tarsus Pharmaceuticals during the third quarter valued at approximately $198,000. 90.01% of the stock is owned by institutional investors and hedge funds.

Tarsus Pharmaceuticals Stock Up 0.2 %

Shares of Tarsus Pharmaceuticals stock opened at $32.12 on Tuesday. Tarsus Pharmaceuticals, Inc. has a 12-month low of $12.57 and a 12-month high of $40.40. The company has a quick ratio of 6.85, a current ratio of 6.93 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $34.05 and a two-hundred day moving average price of $25.09. The stock has a market capitalization of $1.10 billion, a P/E ratio of -6.92 and a beta of 1.05.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($1.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.37) by $0.06. The firm had revenue of $13.08 million for the quarter, compared to the consensus estimate of $4.63 million. During the same period in the prior year, the company posted ($0.49) earnings per share. Equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -4.25 earnings per share for the current year.

Insider Activity

In related news, insider Aziz Mottiwala sold 4,766 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $30.60, for a total transaction of $145,839.60. Following the completion of the transaction, the insider now owns 54,075 shares of the company’s stock, valued at approximately $1,654,695. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Aziz Mottiwala sold 4,766 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $30.60, for a total transaction of $145,839.60. Following the completion of the transaction, the insider now directly owns 54,075 shares in the company, valued at approximately $1,654,695. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Bobak R. Azamian sold 10,415 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $30.60, for a total value of $318,699.00. Following the sale, the chief executive officer now directly owns 26,456 shares in the company, valued at approximately $809,553.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,496 shares of company stock valued at $749,578. 11.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TARS shares. Barclays increased their target price on shares of Tarsus Pharmaceuticals from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Jefferies Financial Group boosted their target price on Tarsus Pharmaceuticals from $30.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Oppenheimer reiterated an “outperform” rating and set a $59.00 price target (up from $55.00) on shares of Tarsus Pharmaceuticals in a report on Wednesday, February 28th. The Goldman Sachs Group increased their price objective on Tarsus Pharmaceuticals from $19.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Finally, HC Wainwright lifted their target price on shares of Tarsus Pharmaceuticals from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.38.

Tarsus Pharmaceuticals Company 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.