Bank of New York Mellon Corp Grows Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Bank of New York Mellon Corp boosted its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,928 shares of the company’s stock after purchasing an additional 498 shares during the quarter. Bank of New York Mellon Corp owned about 0.27% of Tarsus Pharmaceuticals worth $5,644,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TARS. China Universal Asset Management Co. Ltd. grew its stake in shares of Tarsus Pharmaceuticals by 10.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 8,106 shares of the company’s stock worth $449,000 after purchasing an additional 789 shares during the period. R Squared Ltd acquired a new stake in Tarsus Pharmaceuticals in the 4th quarter valued at about $53,000. Rhumbline Advisers grew its holdings in shares of Tarsus Pharmaceuticals by 2.1% during the fourth quarter. Rhumbline Advisers now owns 49,534 shares of the company’s stock worth $2,743,000 after buying an additional 1,019 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Tarsus Pharmaceuticals by 9.3% during the third quarter. Franklin Resources Inc. now owns 12,164 shares of the company’s stock worth $444,000 after buying an additional 1,033 shares in the last quarter. Finally, Legato Capital Management LLC boosted its position in shares of Tarsus Pharmaceuticals by 3.4% in the fourth quarter. Legato Capital Management LLC now owns 45,656 shares of the company’s stock worth $2,528,000 after acquiring an additional 1,496 shares during the last quarter. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Stock Performance

TARS stock opened at $48.09 on Monday. The company has a market capitalization of $1.85 billion, a P/E ratio of -12.62 and a beta of 1.05. The company has a 50-day simple moving average of $49.11 and a 200 day simple moving average of $44.71. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $20.08 and a fifty-two week high of $57.28. 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 issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $58.80 million. Sell-side analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.