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

Jennison Associates LLC reduced its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,467,998 shares of the company’s stock after selling 24,642 shares during the period. Jennison Associates LLC owned approximately 5.87% of Tarsus Pharmaceuticals worth $99,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Amalgamated Bank raised its holdings in Tarsus Pharmaceuticals by 30.1% in the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company’s stock valued at $65,000 after buying an additional 295 shares during the period. Strs Ohio purchased a new stake in Tarsus Pharmaceuticals in the 1st quarter valued at about $288,000. Adage Capital Partners GP L.L.C. purchased a new stake in Tarsus Pharmaceuticals in the 1st quarter valued at about $26,199,000. Allianz Asset Management GmbH purchased a new stake in Tarsus Pharmaceuticals in the 2nd quarter valued at about $227,000. Finally, Vanguard Group Inc. raised its holdings in Tarsus Pharmaceuticals by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 2,226,595 shares of the company’s stock valued at $114,380,000 after buying an additional 111,433 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Stock Performance

Shares of Tarsus Pharmaceuticals stock opened at $67.52 on Thursday. Tarsus Pharmaceuticals, Inc. has a one year low of $38.51 and a one year high of $76.81. The company has a market cap of $2.85 billion, a PE ratio of -28.98 and a beta of 0.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.21 and a current ratio of 5.26. The business has a 50-day simple moving average of $61.17 and a 200-day simple moving average of $50.26.

Tarsus Pharmaceuticals (NASDAQ:TARS) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.15). Tarsus Pharmaceuticals had a negative return on equity of 32.36% and a negative net margin of 31.13%.The company had revenue of $102.66 million for the quarter, compared to analyst estimates of $95.81 million. On average, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tarsus Pharmaceuticals in a research report on Wednesday, October 8th. HC Wainwright lifted their target price on Tarsus Pharmaceuticals from $72.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, October 20th. Finally, Zacks Research raised Tarsus Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Friday, September 5th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.33.

Insider Transactions at Tarsus Pharmaceuticals

In other news, CEO Bobak R. Azamian sold 6,000 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $55.37, for a total transaction of $332,220.00. Following the completion of the transaction, the chief executive officer directly owned 812,106 shares of the company’s stock, valued at approximately $44,966,309.22. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Phd Link sold 27,116 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $57.00, for a total value of $1,545,612.00. Following the transaction, the director directly owned 143,332 shares of the company’s stock, valued at approximately $8,169,924. This represents a 15.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 39,116 shares of company stock valued at $2,177,832. Corporate insiders own 8.97% of the company’s stock.

Tarsus Pharmaceuticals 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.