Tarsus Pharmaceuticals (NASDAQ:TARS) Trading Down 5.3% – Here’s Why

Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) fell 5.3% on Friday . The stock traded as low as $43.50 and last traded at $44.20. 131,705 shares were traded during trading, a decline of 82% from the average session volume of 723,793 shares. The stock had previously closed at $46.65.

Analysts Set New Price Targets

TARS has been the subject of a number of research analyst reports. William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. The Goldman Sachs Group lifted their target price on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Oppenheimer upped their price target on shares of Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $54.20.

Tarsus Pharmaceuticals Price Performance

The stock has a market capitalization of $1.71 billion, a PE ratio of -11.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 7.03 and a quick ratio of 6.99. The stock’s fifty day moving average is $37.55 and its 200-day moving average is $32.43.

Institutional Trading of Tarsus Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in Tarsus Pharmaceuticals by 16.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 210,531 shares of the company’s stock valued at $6,924,000 after buying an additional 29,465 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Tarsus Pharmaceuticals by 14.5% in the first quarter. Vanguard Group Inc. now owns 1,826,632 shares of the company’s stock valued at $66,398,000 after acquiring an additional 231,131 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Tarsus Pharmaceuticals in the first quarter worth approximately $12,640,000. Russell Investments Group Ltd. raised its position in Tarsus Pharmaceuticals by 38,907.8% in the first quarter. Russell Investments Group Ltd. now owns 30,036 shares of the company’s stock valued at $1,092,000 after purchasing an additional 29,959 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Tarsus Pharmaceuticals in the second quarter valued at $28,904,000. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Company 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.