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Bryan Wahl, General Counsel of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS), recently sold shares worth approximately $463,765, according to a recent SEC filing. The transactions, which took place over three days, involved the sale of 9,686 shares of common stock. The biopharmaceutical company, currently valued at $1.9 billion, is trading near its InvestingPro Fair Value, with analysts maintaining a strong buy consensus.
On March 18, Wahl sold 3,341 shares at a price of $46.29 each. The following day, March 19, he sold an additional 3,261 shares at $47.40 per share. The final transaction occurred on March 20, with the sale of 3,084 shares at $50.11 each. These transactions come amid a strong performance period for TARS, with the stock recording a 44.6% gain over the past six months.
These sales were conducted to cover tax withholding obligations related to the vesting and settlement of Restricted Stock Units. As indicated in the filing, the sales were not discretionary but mandated by the company’s policy to satisfy tax obligations through a "sell to cover" transaction.
Following these transactions, Wahl holds 51,712 shares of Tarsus Pharmaceuticals.
In other recent news, Tarsus Pharmaceuticals has completed a significant stock offering, raising approximately $134.8 million. The offering involved the sale of over 3.2 million shares, fully subscribed with underwriters exercising their option to purchase additional shares. This capital influx is intended to support Tarsus Pharmaceuticals’ research and development efforts, as well as general corporate purposes. Meanwhile, the company has also launched a $100 million stock offering with an option for underwriters to acquire an additional $15 million in shares, contingent on market conditions. Analyst activity has been notable, with Jefferies raising Tarsus’s price target to $58 and maintaining a Buy rating, citing strong financial performance and a promising revenue outlook. Guggenheim also increased its price target to $78, recognizing robust sales of Xdemvy and a positive growth trajectory. H.C. Wainwright reaffirmed a Buy rating with a $73 target, expressing confidence in Tarsus’s long-term revenue potential despite recent stock declines. These developments reflect a dynamic period for Tarsus Pharmaceuticals as it navigates growth and investment opportunities.
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