TARSUS PHARMACEUTICALS INC TARS
COM · Common Stock · CUSIP 87650L103 · ISIN US87650L1035
- SectorHealth care
- IndustryBiological Products, (No Diagnostic Substances)
- HeadquartersIrvine, CA
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($453.6k this quarter). Holder counts are more reliable. Shares outstanding: 37.8m as of 2024-05-02, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $36.35. Options: 9 managers hold calls ($7.5m notional), 8 hold puts ($4.3m).
Trends to Q1 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 75 |
| Q4 2022 | 70 |
| Q1 2023 | 75 |
| Q2 2023 | 93 |
| Q3 2023 | 106 |
| Q4 2023 | 117 |
| Q1 2024 | 158 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 35 | 33 |
| Q1 2023 | 37 | 25 |
| Q2 2023 | 63 | 22 |
| Q3 2023 | 74 | 25 |
| Q4 2023 | 71 | 38 |
| Q1 2024 | 107 | 38 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $328.9k | $66.9k | 0.20 |
| Q3 2023 | $576.9k | $308.4k | 0.53 |
| Q4 2023 | $3.0m | $457.6k | 0.15 |
| Q1 2024 | $7.5m | $4.3m | 0.57 |
Biggest buyers
| MORGAN STANLEY | Added | +3.3m |
| Paradigm Biocapital Advisors LP | Added | +1.8m |
| JENNISON ASSOCIATES LLC | New | +1.3m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | Added | +824.0k |
| BOONE CAPITAL MANAGEMENT LLC | New | +609.1k |
| Integral Health Asset Management, LLC | Added | +490.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ | New | +347.7k |
| Ensign Peak Advisors, Inc | Added | +290.0k |
| Walleye Capital LLC | New | +272.5k |
| Artisan Partners Limited Partnership | Added | +237.4k |
Biggest sellers
| Vivo Capital, LLC | Reduced | -1.2m |
| Nantahala Capital Management, LLC | Reduced | -600.2k |
| Tetragon Partners GP Ltd | Reduced | -350.0k |
| TCG Crossover Management, LLC | Reduced | -349.0k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -172.8k |
| Schonfeld Strategic Advisors LLC | Reduced | -164.0k |
| Jefferies Financial Group Inc. | Reduced | -110.0k |
| Sands Capital Alternatives, LLC | Reduced | -90.0k |
| Cormorant Asset Management, LP | Reduced | -82.3k |
| Nuveen Asset Management, LLC | Reduced | -79.7k |
Biggest calls
| Ikarian Capital, LLC | Unchanged | $3.6m100.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $919.7k25.3k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | Unchanged | $872.4k24.0k shares |
| CITIGROUP INC | New | $836.0k23.0k shares |
| CITADEL ADVISORS LLC | Reduced | $439.8k12.1k shares |
| GROUP ONE TRADING LLC | Added | $349.0k9.6k shares |
| Belvedere Trading LLC | New | $214.5k5.9k shares |
| SIMPLEX TRADING, LLC | Added | $196.0k5.4k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| JANE STREET GROUP, LLC | New | $2.0m55.3k shares |
| CITADEL ADVISORS LLC | Added | $810.6k22.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $632.5k17.4k shares |
| SIMPLEX TRADING, LLC | Added | $614.0k16.9k shares |
| Belvedere Trading LLC | New | $116.3k3.2k shares |
| GROUP ONE TRADING LLC | Added | $65.4k1.8k shares |
| STEMPOINT CAPITAL LP | New | $41.2k50.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Deep Track Capital, LP 13G · passive investor +1.4 pts · filed 2026-05-15 | 8.5% |
| RTW INVESTMENTS, LP 13G · institution filed 2025-08-14 | 8.1% |
| BlackRock, Inc. 13G · institution filed 2025-04-24 | 7.4% |
| Janus Henderson Group Ltd. 13G · institution +1.2 pts · filed 2026-08-13 | 6.5% |
Fell to 5% or below in the last year: PRUDENTIAL FINANCIAL INC (4.3%, 2026-05-08), JENNISON ASSOCIATES LLC (4.0%, 2026-05-06), VANGUARD GROUP INC (0.0%, 2026-03-27), TANG CAPITAL MANAGEMENT LLC (2.8%, 2026-02-17)
Insider purchases and sales in Q1 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2022 | 1 | $1.4m | 0 | — | — |
| Q3 2022 | 1 | $296.6k | 2 | $568.9k | — |
| Q4 2022 | 0 | — | 5 | $1.3m | — |
| Q1 2023 | 0 | — | 8 | $1.2m | — |
| Q2 2023 | 0 | — | 3 | $1.1m | $1.1m |
| Q3 2023 | 1 | $159.7k | 2 | $2.6m | $2.6m |
| Q4 2023 | 1 | $19.0k | 4 | $1.6m | $1.3m |
| Q1 2024 | 0 | — | 5 | $881.6k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-03-18 | Azamian Bobak R. President/CEO and Board Chair, director | Sold | $318.7k10.4k shares |
| 2024-03-18 | Neervannan Seshadri Chief Operating Officer | Sold | $149.3k4.9k shares |
| 2024-03-18 | Mottiwala Aziz Chief Commercial Officer | Sold | $145.8k4.8k shares |
| 2024-03-18 | Wahl Bryan General Counsel | Sold | $135.7k4.4k shares |
| 2024-03-18 | Whitfield Dianne C. Chief Human Resources Officer | Sold | $132.0k4.3k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| MORGAN STANLEY 0.01% of their portfolio | 7.2m $261.6m | Added +3.3m |
| RTW INVESTMENTS, LP 1.76% of their portfolio | 3.3m $118.9m | Added +120.0k |
| Paradigm Biocapital Advisors LP 3.66% of their portfolio | 2.9m $104.1m | Added +1.8m |
| BlackRock Inc. 0.00% of their portfolio | 2.7m $96.4m | Added +136.5k |
| TANG CAPITAL MANAGEMENT LLC 8.53% of their portfolio | 2.3m $82.0m | Added +50.0k |
| Cormorant Asset Management, LP 3.43% of their portfolio | 2.1m $77.8m | Reduced -82.3k |
| COWEN AND COMPANY, LLC 3.01% of their portfolio | 2.1m $77.2m | Added +211.1k |
| VANGUARD GROUP INC 0.00% of their portfolio | 1.8m $66.4m | Added +231.1k |
| Frazier Life Sciences Management, L.P. 2.74% of their portfolio | 1.8m $65.0m | Unchanged |
| JENNISON ASSOCIATES LLC 0.03% of their portfolio | 1.3m $48.4m | New |
| PERCEPTIVE ADVISORS LLC 0.83% of their portfolio | 1.3m $47.1m | Unchanged |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.11% of their portfolio | 898.0k $32.6m | Added +824.0k |
| TCG Crossover Management, LLC 2.28% of their portfolio | 793.8k $28.9m | Reduced -349.0k |
| Ensign Peak Advisors, Inc 0.05% of their portfolio | 727.9k $26.5m | Added +290.0k |
| STATE STREET CORP 0.00% of their portfolio | 717.1k $26.1m | Added +42.3k |
| Ikarian Capital, LLC 7.02% of their portfolio | 710.3k $25.8m | Added +191.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 629.7k $22.9m | Added +20.0k |
| Artisan Partners Limited Partnership 0.03% of their portfolio | 627.4k $22.8m | Added +237.4k |
| BOONE CAPITAL MANAGEMENT LLC 4.48% of their portfolio | 609.1k $22.1m | New |
| Integral Health Asset Management, LLC 2.11% of their portfolio | 590.0k $21.4m | Added +490.0k |
| Vivo Capital, LLC 1.62% of their portfolio | 565.5k $20.6m | Reduced -1.2m |
| Tetragon Partners GP Ltd 4.50% of their portfolio | 450.0k $16.4m | Reduced -350.0k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 424.8k $15.4m | Reduced -5.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 347.7k $12.6m | New |
| Ghost Tree Capital, LLC 3.51% of their portfolio | 300.0k $10.9m | Unchanged |
| Walleye Capital LLC 0.11% of their portfolio | 272.5k $9.9m | New |
| Jefferies Financial Group Inc. 0.20% of their portfolio | 270.8k $9.8m | Reduced -110.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 247.2k $9.0m | Reduced -1.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 229.5k $8.3m | Reduced -9.3k |
| Invesco Ltd. 0.00% of their portfolio | 223.6k $8.1m | Added +125.7k |
| STEMPOINT CAPITAL LP 2.16% of their portfolio | 222.3k $8.1m | Added +191.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 222.0k $8.1m | Added +3.3k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 219.3k $8.0m | Added +176.2k |
| ExodusPoint Capital Management, LP 0.10% of their portfolio | 216.0k $7.8m | Reduced -16.9k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 203.7k $7.4m | Reduced -33.7k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 196.5k $7.1m | Added +156.0k |
| Allspring Global Investments Holdings, LLC 0.01% of their portfolio | 192.3k $7.0m | Added +4.9k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.18% of their portfolio | 175.5k $6.4m | Added +63.7k |
| Sands Capital Alternatives, LLC 1.49% of their portfolio | 170.0k $6.2m | Reduced -90.0k |
| LORD, ABBETT & CO. LLC 0.01% of their portfolio | 164.5k $6.0m | New |
| J. Goldman & Co LP 0.27% of their portfolio | 163.3k $5.9m | Added +91.0k |
| Driehaus Capital Management LLC 0.06% of their portfolio | 161.2k $5.9m | New |
| NORGES BANK 0.00% of their portfolio | 160.1k $5.8m | Unchanged |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 156.8k $5.7m | Reduced -79.7k |
| Nantahala Capital Management, LLC 0.54% of their portfolio | 150.3k $5.5m | Reduced -600.2k |
| CIBC WORLD MARKETS CORP 0.04% of their portfolio | 150.0k $5.5m | New |
| MACQUARIE GROUP LTD 0.01% of their portfolio | 150.0k $5.5m | Unchanged |
| CIBC WORLD MARKET INC. 0.01% of their portfolio | 150.0k $5.5m | New |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 147.8k $5.4m | Added +75.9k |
| Baird Financial Group, Inc. 0.01% of their portfolio | 128.3k $4.7m | New |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 111.4k $4.1m | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 106.7k $3.9m | Added +55.5k |
| Informed Momentum Co LLC 0.57% of their portfolio | 100.7k $3.7m | New |
| Laurion Capital Management LP 0.10% of their portfolio | 100.0k $3.6m | New |
| Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio | 97.0k $3.5m | Added +7.0k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 96.4k $3.5m | Added +14.2k |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 73.9k $2.7m | Added +7.6k |
| Aberdeen Group plc 0.01% of their portfolio | 72.0k $2.6m | Unchanged |
| Exome Asset Management LLC 2.06% of their portfolio | 66.3k $2.4m | Reduced -18.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 61.0k $2.2m | Reduced -30.4k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 58.4k $2.1m | Added +4.9k |
| Grant/GrossMendelsohn, LLC 0.91% of their portfolio | 53.6k $1.9m | Unchanged |
| Raymond James Financial Services Advisors, Inc. 0.00% of their portfolio | 51.0k $1.9m | Added +7.1k |
| Monashee Investment Management LLC 0.22% of their portfolio | 50.0k $1.8m | New |
| TD Asset Management Inc 0.00% of their portfolio | 48.6k $1.8m | New |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 43.6k $1.6m | Added +2.0k |
| Swiss National Bank 0.00% of their portfolio | 42.4k $1.5m | Added +600 |
| Trexquant Investment LP 0.03% of their portfolio | 41.0k $1.5m | Added +1.5k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 39.5k $1.4m | Added +13.0k |
| UBS Group AG 0.00% of their portfolio | 38.3k $1.4m | Added +7.8k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 38.3k $1.4m | Added +19.1k |
| Cubist Systematic Strategies, LLC 0.02% of their portfolio | 37.9k $1.4m | Added +34.2k |
| Squarepoint Ops LLC 0.01% of their portfolio | 33.9k $1.2m | New |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 33.4k $1.2m | Added +27.5k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 32.8k $1.2m | Added +18.4k |
| BARCLAYS PLC 0.00% of their portfolio | 30.3k $1.1m | Reduced -17.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 30.2k $1.1m | Added +18.8k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 30.0k $1.1m | Added +30.0k |
| Jackson Creek Investment Advisors LLC 0.38% of their portfolio | 29.6k $1.1m | New |
| Jump Financial, LLC 0.03% of their portfolio | 29.5k $1.1m | New |
| Callan Capital, LLC 0.04% of their portfolio | 28.0k $1.0m | Added +11.1k |
| CREDIT SUISSE AG/ 0.00% of their portfolio | 27.5k $998.0k | Added +440 |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 27.3k $992.4k | Added +6.6k |
| ALPS ADVISORS INC 0.01% of their portfolio | 26.4k $961.4k | Added +4.6k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 25.6k $932.2k | Reduced -172.8k |
| E. Ohman J:or Asset Management AB 0.02% of their portfolio | 25.0k $908.8k | New |
| Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio | 24.6k $896.0k | Added +3.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 22.8k $830.2k | Added +8.5k |
| Legal & General Group Plc 0.00% of their portfolio | 22.8k $829.9k | Unchanged |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 22.7k $825.9k | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 22.3k $809.9k | Reduced -1.3k |
| THOROUGHBRED FINANCIAL SERVICES, LLC 0.07% of their portfolio | 21.0k $762.0k | New |
| Janney Montgomery Scott LLC 0.00% of their portfolio | 20.9k $760.0k | Reduced -3.3k |
| VIRTUS ADVISERS, LLC 0.38% of their portfolio | 19.9k $724.4k | Added +2.9k |
| TUDOR INVESTMENT CORP ET AL 0.01% of their portfolio | 18.7k $679.6k | New |
| IEQ CAPITAL, LLC 0.01% of their portfolio | 17.8k $645.4k | Unchanged |
| SIMPLEX TRADING, LLC 0.02% of their portfolio | 16.2k $587.0k | Added +8.2k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 15.5k $564.9k | Unchanged |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 15.5k $564.6k | Reduced -164.0k |
| FEDERATED HERMES, INC. 0.00% of their portfolio | 15.5k $562.2k | New |