TARSNasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
Tarsus Pharmaceuticals, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$69.50+1.43 (+2.10%)
Close on Oct 19, 2026
- Market cap
- $3.02B
- P/E (TTM)
- –
- Dividend yield
- 0.00%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
48M of 44M shares
Institutional holders
257
40 new, 33 sold out
Net institutional buying
5M
In Q2 2026
Insider trades, 12 months
0 buys · 59 sales
Net sold $19.96M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Deep Track Capital, LP | 3,600,000 | 8.46% | 13G (passive) amendment | Mar 31, 2026 |
| RTW Investments, LP | 3,424,180 | 8.10% | 13G (passive) amendment | Jun 30, 2025 |
| BlackRock, Inc. | 3,092,735 | 7.40% | 13G (passive) amendment | Mar 31, 2025 |
| Deep Track Biotechnology Master Fund, Ltd. | 3,000,000 | 7.11% | 13G (passive) amendment | Sep 30, 2025 |
| JANUS HENDERSON GROUP Ltd. | 2,808,796 | 6.50% | 13G (passive) amendment | Jun 30, 2026 |
| Paradigm BioCapital Advisors GP LLC | 2,440,445 | 6.40% | 13G (passive) amendment | Sep 30, 2024 |
| David Kroin | 2,352,960 | 5.60% | 13G (passive) | Jul 21, 2025 |
| Janus Henderson Group PLC | 2,240,963 | 5.30% | 13G (passive) | Mar 31, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of TARS | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 3,856,137 | 8.79% | $242.71M | +303,525 | 0.00% |
| Deep Track Capital, LP | 3,666,768 | 8.36% | $230.79M | +66,768 | 3.36% |
| Rtw Investments, LP | 3,357,059 | 7.65% | $211.29M | +11,034 | 1.80% |
| Jupiter Topco LLC | 2,808,796 | 6.40% | $176.83M | New | 0.07% |
| Paradigm Biocapital Advisors LP | 2,775,649 | 6.33% | $174.70M | +213,495 | 3.27% |
| Assenagon Asset Management S.A. | 1,894,990 | 4.32% | $119.27M | +614,796 | 0.07% |
| Morgan Stanley | 1,827,082 | 4.16% | $115.00M | −117,190 | 0.01% |
| Vanguard Capital Management LLC | 1,793,064 | 4.09% | $112.86M | +32,523 | 0.00% |
| Jennison Associates LLC | 1,663,655 | 3.79% | $104.71M | −48,469 | 0.06% |
| Tang Capital Management LLC | 1,568,266 | 3.57% | $98.71M | +379,642 | 4.48% |
| Millennium Management LLC | 1,427,124 | 3.25% | $89.82M | +862,545 | 0.03% |
| Bank Of America Corp /De/ | 1,193,182 | 2.72% | $75.10M | −1,195 | 0.00% |
| Geode Capital Management, LLC | 1,105,689 | 2.52% | $69.61M | −15,402 | 0.00% |
| State Street Corp | 1,072,951 | 2.45% | $67.53M | +94,739 | 0.00% |
| Vestal Point Capital, LP | 1,050,000 | 2.39% | $66.09M | +850,000 | 1.54% |
| Invesco Ltd. | 785,808 | 1.79% | $49.46M | +43,311 | 0.00% |
| Goldman Sachs Group Inc | 742,693 | 1.69% | $46.75M | +303,067 | 0.00% |
| Frazier Life Sciences Management, L.P. | 728,644 | 1.66% | $45.86M | – | 1.00% |
| D. E. Shaw & Co., Inc. | 710,559 | 1.62% | $44.72M | −80,587 | 0.02% |
| FMR LLC | 672,949 | 1.53% | $42.36M | −60,385 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 257 | 48M | 100.0% | 40 / 104 | 84 / 33 | 10M | 4M |
| Q1 2026 | 253 | 45M | 100.0% | 48 / 88 | 82 / 36 | 7M | 4M |
| Q4 2025 | 246 | 44M | 100.0% | 52 / 84 | 85 / 23 | 5M | 6M |
| Q3 2025 | 220 | 45M | 100.0% | 37 / 67 | 92 / 22 | 4M | 6M |
| Q2 2025 | 205 | 46M | 100.0% | 44 / 87 | 50 / 30 | 8M | 5M |
| Q1 2025 | 194 | 44M | 100.0% | 36 / 67 | 71 / 34 | 8M | 4M |
| Q4 2024 | 195 | 40M | 91.7% | 58 / 65 | 55 / 22 | 7M | 10M |
| Q3 2024 | 162 | 44M | 100.0% | 40 / 55 | 44 / 25 | 10M | 4M |
| Q2 2024 | 148 | 41M | 92.4% | 26 / 67 | 41 / 34 | 7M | 11M |
| Q1 2024 | 157 | 44M | 100.0% | 47 / 60 | 32 / 6 | 13M | 4M |
| Q4 2023 | 116 | 35M | 78.7% | 28 / 48 | 22 / 17 | 8M | 4M |
| Q3 2023 | 105 | 30M | 67.9% | 25 / 49 | 13 / 12 | 9M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of TARS | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 1,295,411 | 2.95% | $81.53M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 1,089,912 | 2.48% | $68.60M | 0.08% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 457,872 | 1.04% | $27.03M | 0.08% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 455,507 | 1.04% | $28.67M | 0.03% | Jun 30, 2026 |
| PGIM Jennison Small Company Fund | 408,226 | 0.93% | $25.69M | 0.74% | Jun 30, 2026 |
| iShares Russell 2000 Growth ETF | 386,634 | 0.88% | $24.33M | 0.16% | Jun 30, 2026 |
| Janus Henderson Global Life Sciences Fund | 346,737 | 0.79% | $21.82M | 0.38% | Jun 30, 2026 |
| Nomura Small Cap Growth Fund | 342,284 | 0.78% | $21.54M | 1.84% | Jun 30, 2026 |
| ClearBridge Small Cap Growth Fund | 309,489 | 0.71% | $18.27M | 0.96% | Jul 31, 2026 |
| iShares Biotechnology ETF | 286,097 | 0.65% | $18.01M | 0.20% | Jun 30, 2026 |
| Janus Henderson Triton Fund | 283,659 | 0.65% | $17.85M | 0.30% | Jun 30, 2026 |
| Fidelity Growth Company Fund | 228,960 | 0.52% | $13.60M | 0.01% | May 31, 2026 |
| Invesco Main Street Small Cap Fund | 207,376 | 0.47% | $13.05M | 0.49% | Jun 30, 2026 |
| Loomis Sayles Small Cap Growth Fund | 205,975 | 0.47% | $12.96M | 0.57% | Jun 30, 2026 |
| Vanguard Russell 2000 Index Fund | 203,265 | 0.46% | $12.07M | 0.07% | May 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Bobak R. Azamian | President/CEO and Board Chair, Director | 864,312 | 1.97% | Sep 9, 2026 |
| Seshadri Neervannan | Chief Operating Officer | 79,007 | 0.18% | Sep 9, 2026 |
| Elizabeth Yeu Lin | Chief Medical Officer | 16,177 | 0.04% | Sep 9, 2026 |
| Jeffrey S. Farrow | See Remarks | 56,801 | 0.13% | Jun 17, 2026 |
| Aziz Mottiwala | Chief Commercial Officer | 61,480 | 0.14% | Mar 19, 2026 |
| Bryan Wahl | General Counsel | 63,959 | 0.15% | Mar 19, 2026 |
| Dianne C. Whitfield | Chief Human Resources Officer | 35,028 | 0.08% | Mar 19, 2026 |
| David E. I. Pyott | Director | 10,958 | 0.02% | Sep 17, 2026 |
| Wendy L. Yarno | Director | 16,956 | 0.04% | Sep 17, 2026 |
| William J. Link Phd | Director | 106,987 | 0.24% | Sep 17, 2026 |
| Katherine Goodrich | Director | 2,233 | 0.01% | Jun 29, 2026 |
| Scott W. Morrison | Director | 13,654 | 0.03% | Jun 29, 2026 |
| Bhaskar Chaudhuri | Director | 11,654 | 0.03% | Jun 29, 2026 |
| Andrew D. Goldberg | Director | 19,654 | 0.04% | Jun 29, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| David E. I. Pyott Director | Sep 15, 2026 | Option exercise | +201 | – | – | 9,575 |
| Wendy L. Yarno Director | Sep 15, 2026 | Option exercise | +302 | – | – | 16,956 |
| William J. Link Phd Director | Sep 15, 2026 | Option exercise | +201 | – | – | 106,987 |
| William J. Link Phd Director | Sep 15, 2026 | Sale(10b5-1 plan) | −11,675 | $78.33 | $914.50K | 95,312 |
| William J. Link Phd Director | Sep 15, 2026 | Sale(10b5-1 plan) | −759 | $79.00 | $59.96K | 94,553 |
| William J. Link Phd Director | Sep 15, 2026 | Sale(10b5-1 plan) | −66 | $80.01 | $5.28K | 94,487 |
| Seshadri Neervannan Chief Operating Officer | Sep 4, 2026 | Sale(10b5-1 plan) | −4,564 | $85.00 | $387.94K | 78,532 |
| Elizabeth Yeu Lin Chief Medical Officer | Sep 4, 2026 | Sale(10b5-1 plan) | −5,386 | $90.00 | $484.74K | 2,547 |
| Elizabeth Yeu Lin Chief Medical Officer | Sep 4, 2026 | Sale(10b5-1 plan) | −5,387 | $85.00 | $457.90K | 7,933 |
| Elizabeth Yeu Lin Chief Medical Officer | Sep 4, 2026 | Sale(10b5-1 plan) | −1,590 | $90.00 | $143.10K | 1,590 |
| Elizabeth Yeu Lin Chief Medical Officer | Sep 4, 2026 | Sale(10b5-1 plan) | −1,590 | $85.00 | $135.15K | 3,180 |
| Bobak R. Azamian President/CEO and Board Chair, Director | Sep 4, 2026 | Sale(10b5-1 plan) | −7,100 | $90.27 | $640.92K | 830,891 |
| Bobak R. Azamian President/CEO and Board Chair, Director | Sep 4, 2026 | Sale(10b5-1 plan) | −2,900 | $91.27 | $264.68K | 827,991 |
| Bobak R. Azamian President/CEO and Board Chair, Director | Sep 2, 2026 | Sale(10b5-1 plan) | −10,000 | $80.06 | $800.60K | 837,991 |
| Elizabeth Yeu Lin Chief Medical Officer | Sep 2, 2026 | Sale(10b5-1 plan) | −5,387 | $80.00 | $430.96K | 13,320 |
| Elizabeth Yeu Lin Chief Medical Officer | Sep 2, 2026 | Sale(10b5-1 plan) | −1,590 | $80.00 | $127.20K | 4,770 |
| Elizabeth Yeu Lin Chief Medical Officer | Sep 1, 2026 | Sale(10b5-1 plan) | −4,601 | $73.86 | $339.83K | 18,707 |
| Bobak R. Azamian President/CEO and Board Chair, Director | Jun 17, 2026 | Sale(10b5-1 plan) | −4,582 | $61.24 | $280.60K | 853,409 |
| Bobak R. Azamian President/CEO and Board Chair, Director | Jun 17, 2026 | Sale(10b5-1 plan) | −5,418 | $61.81 | $334.89K | 847,991 |
| Jeffrey S. Farrow See Remarks | Jun 16, 2026 | Sale | −14,396 | $60.95 | $877.44K | 56,801 |
| Jeffrey S. Farrow See Remarks | Jun 15, 2026 | Option exercise | +27,881 | – | – | 71,197 |
| Katherine Goodrich Director | Jun 15, 2026 | Sale(10b5-1 plan) | −2,954 | $62.08 | $183.38K | 2,233 |
| William J. Link Phd Director | Jun 15, 2026 | Sale(10b5-1 plan) | −1,928 | $62.94 | $121.35K | 106,786 |
| William J. Link Phd Director | Jun 15, 2026 | Sale(10b5-1 plan) | −10,572 | $61.97 | $655.15K | 108,714 |
| William J. Link Phd Director | Jun 12, 2026 | Option exercise | +2,954 | – | – | 119,286 |
| Bhaskar Chaudhuri Director | Jun 12, 2026 | Option exercise | +2,954 | – | – | 11,654 |
| Katherine Goodrich Director | Jun 12, 2026 | Option exercise | +2,954 | – | – | 5,187 |
| Scott W. Morrison Director | Jun 12, 2026 | Option exercise | +2,954 | – | – | 7,638 |
| Andrew D. Goldberg Director | Jun 12, 2026 | Option exercise | +2,954 | – | – | 19,654 |
| Wendy L. Yarno Director | Jun 12, 2026 | Option exercise | +2,954 | – | – | 16,654 |
| David E. I. Pyott Director | Apr 24, 2026 | Option exercise | +1,383 | – | – | 1,383 |
| Seshadri Neervannan Chief Operating Officer | Mar 20, 2026 | Sale(10b5-1 plan) | −2,989 | $66.75 | $199.52K | 82,791 |
| Jeffrey S. Farrow See Remarks | Mar 19, 2026 | Sale | −2,186 | $67.00 | $146.46K | 43,316 |
| Aziz Mottiwala Chief Commercial Officer | Mar 19, 2026 | Sale | −4,440 | $67.00 | $297.48K | 61,480 |
| Bryan Wahl General Counsel | Mar 19, 2026 | Sale | −4,231 | $67.00 | $283.48K | 63,959 |
| Dianne C. Whitfield Chief Human Resources Officer | Mar 19, 2026 | Sale | −4,174 | $67.00 | $279.66K | 35,028 |
| Elizabeth Yeu Lin Chief Medical Officer | Mar 19, 2026 | Sale | −390 | $67.00 | $26.13K | 23,308 |
| Seshadri Neervannan Chief Operating Officer | Mar 19, 2026 | Sale | −4,589 | $67.00 | $307.46K | 85,780 |
| Bobak R. Azamian President/CEO and Board Chair, Director | Mar 19, 2026 | Sale | −11,964 | $67.00 | $801.59K | 33,421 |
| Jeffrey S. Farrow See Remarks | Mar 18, 2026 | Sale | −2,133 | $68.71 | $146.56K | 45,502 |
| Aziz Mottiwala Chief Commercial Officer | Mar 18, 2026 | Sale | −4,330 | $68.71 | $297.51K | 65,920 |
| Bryan Wahl General Counsel | Mar 18, 2026 | Sale | −4,125 | $68.71 | $283.43K | 68,190 |
| Dianne C. Whitfield Chief Human Resources Officer | Mar 18, 2026 | Sale | −4,071 | $68.71 | $279.72K | 39,202 |
| Elizabeth Yeu Lin Chief Medical Officer | Mar 18, 2026 | Sale | −379 | $68.71 | $26.04K | 23,698 |
| Seshadri Neervannan Chief Operating Officer | Mar 18, 2026 | Sale | −3,610 | $68.71 | $248.04K | 90,369 |
| Bobak R. Azamian President/CEO and Board Chair, Director | Mar 18, 2026 | Sale | −11,667 | $68.71 | $801.64K | 45,385 |
| Jeffrey S. Farrow See Remarks | Mar 17, 2026 | Sale | −2,111 | $69.42 | $146.55K | 47,635 |
| Aziz Mottiwala Chief Commercial Officer | Mar 17, 2026 | Sale | −4,286 | $69.42 | $297.53K | 70,250 |
| Bryan Wahl General Counsel | Mar 17, 2026 | Sale | −4,084 | $69.42 | $283.51K | 72,315 |
| Dianne C. Whitfield Chief Human Resources Officer | Mar 17, 2026 | Sale | −4,029 | $69.42 | $279.69K | 43,273 |
| Elizabeth Yeu Lin Chief Medical Officer | Mar 17, 2026 | Sale | −375 | $69.42 | $26.03K | 24,077 |
| Seshadri Neervannan Chief Operating Officer | Mar 17, 2026 | Sale | −3,125 | $69.42 | $216.94K | 93,979 |
| Bobak R. Azamian President/CEO and Board Chair, Director | Mar 17, 2026 | Sale | −10,972 | $69.42 | $761.68K | 57,052 |
| William J. Link Phd Director | Mar 16, 2026 | Sale(10b5-1 plan) | −3,629 | $68.09 | $247.10K | 125,203 |
| William J. Link Phd Director | Mar 16, 2026 | Sale(10b5-1 plan) | −493 | $69.75 | $34.39K | 116,332 |
| William J. Link Phd Director | Mar 16, 2026 | Sale(10b5-1 plan) | −8,378 | $69.03 | $578.33K | 116,825 |
| Jeffrey S. Farrow See Remarks | Mar 15, 2026 | Option exercise | +13,042 | – | – | 49,746 |
| Bryan Wahl General Counsel | Mar 15, 2026 | Option exercise | +24,236 | – | – | 76,399 |
| Seshadri Neervannan Chief Operating Officer | Mar 15, 2026 | Option exercise | +26,287 | – | – | 97,104 |
| Dianne C. Whitfield Chief Human Resources Officer | Mar 15, 2026 | Option exercise | +23,909 | – | – | 47,302 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| J. Link William DIRECTOR | Sep 15, 2026 | 12,500 | $979.75K | Sep 15, 2026 | STOCK OPTION EXERCISE |
| Elizabeth Yeu Lin Member of immediate family of any of the foregoing | Sep 4, 2026 | 3,180 | $278.25K | Sep 4, 2026 | Open Market Purchase |
| Azamian Bobak OFFICER | Sep 4, 2026 | 10,000 | $905.59K | Sep 4, 2026 | PRIVATE PLACEMENT |
| Seshadri Neervannan Officer | Sep 4, 2026 | 4,564 | $387.94K | Sep 4, 2026 | Restricted Stock Vesting |
| Elizabeth Yeu Lin Officer | Sep 4, 2026 | 10,773 | $942.64K | Sep 4, 2026 | Open Market Purchase |
| Azamian Bobak OFFICER | Sep 2, 2026 | 10,000 | $800.57K | Sep 2, 2026 | PRIVATE PLACEMENT |
| Elizabeth Yeu Lin Officer | Sep 2, 2026 | 5,387 | $430.96K | Sep 2, 2026 | Open Market Purchase |
| Aziz Mottiwala Former Officer | Sep 2, 2026 | 8,000 | $654.37K | Sep 2, 2026 | Stock Option Exercise |
| Elizabeth Yeu Lin Member of immediate family of any of the foregoing | Sep 2, 2026 | 1,590 | $127.20K | Sep 2, 2026 | Open Market Purchase |
| Elizabeth Yeu Lin Officer | Sep 1, 2026 | 4,601 | $339.83K | Sep 1, 2026 | Restricted Stock Vesting |
| Aziz Mottiwala Former Officer | Sep 1, 2026 | 77,698 | $5.75M | Sep 1, 2026 | Stock Option Exercise |
| Aziz Mottiwala Former Officer | Aug 25, 2026 | 81,332 | $5.84M | Aug 25, 2026 | Stock Option Exercise |
| Aziz Mottiwala Former Officer | Aug 19, 2026 | 53,043 | $3.82M | Aug 19, 2026 | Stock Option Exercise |
| Azamian Bobak OFFICER | Jun 17, 2026 | 10,000 | $615.47K | Jun 17, 2026 | PRIVATE PLACEMENT |
| Jeffrey S. Farrow Officer | Jun 16, 2026 | 14,396 | $877.46K | Jun 16, 2026 | Restricted Stock Vesting |