Jennison Associates LLC Cuts Position in Tarsus Pharmaceuticals, Inc. $TARS

Jennison Associates LLC cut its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 23.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,712,124 shares of the company’s stock after selling 517,945 shares during the period. Jennison Associates LLC owned about 3.98% of Tarsus Pharmaceuticals worth $120,106,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TARS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Tarsus Pharmaceuticals by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company’s stock worth $1,137,000 after acquiring an additional 1,217 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Tarsus Pharmaceuticals by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company’s stock valued at $3,659,000 after purchasing an additional 1,394 shares during the last quarter. Jane Street Group LLC increased its position in shares of Tarsus Pharmaceuticals by 105.8% during the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company’s stock valued at $537,000 after purchasing an additional 190,000 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Tarsus Pharmaceuticals by 402.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company’s stock worth $5,696,000 after purchasing an additional 112,637 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Tarsus Pharmaceuticals by 12.3% during the 2nd quarter. Invesco Ltd. now owns 928,501 shares of the company’s stock worth $37,614,000 after purchasing an additional 101,978 shares during the period. 90.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TARS. HC Wainwright restated a “buy” rating and set a $88.00 price target on shares of Tarsus Pharmaceuticals in a research report on Thursday, July 9th. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a research note on Friday, April 24th. They issued an “outperform” rating and a $98.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Insider Buying and Selling at Tarsus Pharmaceuticals

In other news, Director William J. Phd Link sold 12,500 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $62.12, for a total value of $776,500.00. Following the completion of the transaction, the director owned 106,786 shares in the company, valued at $6,633,546.32. This trade represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jeffrey S. Farrow sold 14,396 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.95, for a total transaction of $877,436.20. Following the completion of the transaction, the insider directly owned 56,801 shares of the company’s stock, valued at approximately $3,462,020.95. This trade represents a 20.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 39,850 shares of company stock worth $2,452,821 over the last ninety days. Company insiders own 9.64% of the company’s stock.

Tarsus Pharmaceuticals Stock Up 3.7%

Shares of NASDAQ TARS opened at $59.85 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.74 and a quick ratio of 3.71. The stock has a market capitalization of $2.57 billion, a PE ratio of -52.50 and a beta of 0.50. Tarsus Pharmaceuticals, Inc. has a one year low of $38.51 and a one year high of $85.25. The business’s fifty day moving average price is $62.01 and its 200-day moving average price is $66.86.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.24. Tarsus Pharmaceuticals had a negative return on equity of 14.19% and a negative net margin of 9.02%.The company had revenue of $162.05 million during the quarter, compared to analyst estimates of $149.60 million. On average, equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -0.86 EPS for the current year.

Tarsus Pharmaceuticals Company Profile

Tarsus Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro‐effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early‐stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.