Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 70.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 129,184 shares of the company’s stock after selling 310,983 shares during the quarter. JPMorgan Chase & Co. owned about 0.34% of Tarsus Pharmaceuticals worth $7,153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Crowley Wealth Management Inc. acquired a new position in Tarsus Pharmaceuticals in the fourth quarter valued at approximately $25,000. R Squared Ltd acquired a new position in shares of Tarsus Pharmaceuticals in the 4th quarter valued at $53,000. FMR LLC boosted its holdings in shares of Tarsus Pharmaceuticals by 236.6% in the 3rd quarter. FMR LLC now owns 5,032 shares of the company’s stock valued at $166,000 after buying an additional 3,537 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Tarsus Pharmaceuticals in the 4th quarter valued at $207,000. Finally, Victory Capital Management Inc. acquired a new stake in Tarsus Pharmaceuticals during the 4th quarter worth $223,000. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insiders Place Their Bets

In other Tarsus Pharmaceuticals news, General Counsel Bryan Wahl sold 3,084 shares of Tarsus Pharmaceuticals stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $50.11, for a total value of $154,539.24. Following the sale, the general counsel now owns 51,712 shares of the company’s stock, valued at approximately $2,591,288.32. The trade was a 5.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Bobak R. Azamian sold 7,131 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $46.29, for a total value of $330,093.99. Following the transaction, the chief executive officer now directly owns 70,720 shares of the company’s stock, valued at approximately $3,273,628.80. This trade represents a 9.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,542 shares of company stock worth $1,581,173. 8.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Guggenheim reaffirmed a “buy” rating and set a $78.00 price objective (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a report on Monday, February 24th. Oppenheimer upped their target price on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Barclays cut their price target on Tarsus Pharmaceuticals from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Jefferies Financial Group boosted their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, HC Wainwright restated a “buy” rating and set a $73.00 target price on shares of Tarsus Pharmaceuticals in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tarsus Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $63.67.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $49.39 on Thursday. Tarsus Pharmaceuticals, Inc. has a 52-week low of $20.08 and a 52-week high of $57.28. The stock’s 50-day moving average price is $47.85 and its 200 day moving average price is $47.46. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.90 billion, a PE ratio of -12.96 and a beta of 0.94.

Tarsus Pharmaceuticals (NASDAQ:TARS) last released its earnings results on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.08. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. The business had revenue of $66.41 million for the quarter, compared to analyst estimates of $58.80 million. As a group, equities research analysts forecast that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

About Tarsus Pharmaceuticals

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.