Ally Bridge Group NY LLC Makes New $10.59 Million Investment in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Ally Bridge Group NY LLC bought a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 321,898 shares of the company's stock, valued at approximately $10,587,000. Tarsus Pharmaceuticals accounts for about 5.7% of Ally Bridge Group NY LLC's investment portfolio, making the stock its 2nd biggest holding. Ally Bridge Group NY LLC owned approximately 0.85% of Tarsus Pharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $61,000. Canada Pension Plan Investment Board purchased a new stake in Tarsus Pharmaceuticals in the 2nd quarter worth $114,000. FMR LLC raised its holdings in Tarsus Pharmaceuticals by 236.6% during the third quarter. FMR LLC now owns 5,032 shares of the company's stock valued at $166,000 after acquiring an additional 3,537 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Tarsus Pharmaceuticals by 33.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company's stock valued at $166,000 after acquiring an additional 1,530 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Tarsus Pharmaceuticals by 87.5% in the third quarter. SG Americas Securities LLC now owns 7,242 shares of the company's stock worth $238,000 after acquiring an additional 3,379 shares during the period. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Price Performance

Shares of TARS stock traded up $1.18 on Thursday, reaching $50.84. The company's stock had a trading volume of 486,401 shares, compared to its average volume of 724,973. Tarsus Pharmaceuticals, Inc. has a 1 year low of $15.60 and a 1 year high of $52.99. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -13.34 and a beta of 1.00. The stock's fifty day simple moving average is $40.37 and its 200-day simple moving average is $33.19. The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30.

Wall Street Analyst Weigh In

TARS has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a "neutral" rating in a report on Friday, November 15th. Oppenheimer raised their target price on shares of Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, November 14th. Finally, William Blair upgraded shares of Tarsus Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tarsus Pharmaceuticals has an average rating of "Buy" and an average price target of $54.20.

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.