Healthcare of Ontario Pension Plan Trust Fund Decreases Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Healthcare of Ontario Pension Plan Trust Fund decreased its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 56.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 389,600 shares of the company’s stock after selling 508,400 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 1.03% of Tarsus Pharmaceuticals worth $10,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of TARS. Driehaus Capital Management LLC increased its position in Tarsus Pharmaceuticals by 126.1% in the second quarter. Driehaus Capital Management LLC now owns 364,463 shares of the company’s stock worth $9,906,000 after purchasing an additional 203,300 shares during the last quarter. Scientech Research LLC bought a new stake in Tarsus Pharmaceuticals during the second quarter worth approximately $289,000. The Manufacturers Life Insurance Company raised its position in Tarsus Pharmaceuticals by 10.3% during the second quarter. The Manufacturers Life Insurance Company now owns 33,282 shares of the company’s stock valued at $905,000 after purchasing an additional 3,112 shares during the period. Millennium Management LLC lifted its stake in shares of Tarsus Pharmaceuticals by 1,259.3% in the 2nd quarter. Millennium Management LLC now owns 348,586 shares of the company’s stock valued at $9,475,000 after purchasing an additional 322,942 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter worth approximately $202,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $63.00 price objective (up from $61.00) on shares of Tarsus Pharmaceuticals in a research note on Friday, August 9th. William Blair raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $51.60.

Tarsus Pharmaceuticals Stock Up 5.0 %

Shares of NASDAQ:TARS opened at $33.89 on Friday. The business’s 50 day moving average is $28.34 and its 200 day moving average is $31.05. The stock has a market cap of $1.29 billion, a P/E ratio of -7.10 and a beta of 1.07. Tarsus Pharmaceuticals, Inc. has a 52-week low of $12.57 and a 52-week high of $42.50. The company has a quick ratio of 6.99, a current ratio of 7.03 and a debt-to-equity ratio of 0.28.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.10. The firm had revenue of $40.81 million for the quarter, compared to analyst estimates of $31.30 million. Tarsus Pharmaceuticals had a negative return on equity of 63.99% and a negative net margin of 180.00%. During the same quarter last year, the firm posted ($1.17) earnings per share. Sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.68 EPS for the current year.

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.