Victory Capital Management Inc. Makes New Investment in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Victory Capital Management Inc. purchased a new stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,031 shares of the company’s stock, valued at approximately $223,000.

Several other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in Tarsus Pharmaceuticals by 0.5% during the fourth quarter. Bank of New York Mellon Corp now owns 101,928 shares of the company’s stock valued at $5,644,000 after purchasing an additional 498 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Tarsus Pharmaceuticals by 10.8% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,106 shares of the company’s stock valued at $449,000 after purchasing an additional 789 shares in the last quarter. R Squared Ltd bought a new stake in Tarsus Pharmaceuticals during the fourth quarter valued at about $53,000. Rhumbline Advisers boosted its position in Tarsus Pharmaceuticals by 2.1% during the fourth quarter. Rhumbline Advisers now owns 49,534 shares of the company’s stock valued at $2,743,000 after purchasing an additional 1,019 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Tarsus Pharmaceuticals by 9.3% during the third quarter. Franklin Resources Inc. now owns 12,164 shares of the company’s stock valued at $444,000 after purchasing an additional 1,033 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ TARS opened at $49.97 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The company has a market cap of $1.92 billion, a PE ratio of -13.12 and a beta of 1.05. The business has a 50-day simple moving average of $48.48 and a two-hundred day simple moving average of $45.46. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $57.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Tuesday, February 25th. The company reported ($0.60) EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $58.80 million. As a group, equities analysts expect that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barclays dropped their price objective on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. HC Wainwright reaffirmed a “buy” rating and set a $73.00 price objective on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and set a $78.00 price objective (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. Jefferies Financial Group raised their price target on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Oppenheimer raised their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tarsus Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $63.67.

Insider Buying and Selling

In related news, CEO Bobak R. Azamian sold 8,534 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total transaction of $427,638.74. Following the completion of the transaction, the chief executive officer now directly owns 53,635 shares in the company, valued at approximately $2,687,649.85. This trade represents a 13.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dianne C. Whitfield sold 2,137 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total value of $107,085.07. Following the transaction, the insider now owns 46,355 shares of the company’s stock, valued at approximately $2,322,849.05. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,542 shares of company stock valued at $1,281,173 over the last quarter. 8.25% of the stock is currently owned by company insiders.

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.