Jennison Associates LLC Acquires 321,552 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Jennison Associates LLC boosted its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 14.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,500,132 shares of the company's stock after purchasing an additional 321,552 shares during the quarter. Jennison Associates LLC owned about 6.54% of Tarsus Pharmaceuticals worth $138,432,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in Tarsus Pharmaceuticals by 0.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,146,812 shares of the company's stock valued at $63,499,000 after purchasing an additional 5,565 shares during the period. Ikarian Capital LLC boosted its stake in Tarsus Pharmaceuticals by 28.7% in the 3rd quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company's stock valued at $33,886,000 after purchasing an additional 230,000 shares during the period. Geode Capital Management LLC boosted its stake in Tarsus Pharmaceuticals by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 835,790 shares of the company's stock valued at $27,494,000 after purchasing an additional 62,555 shares during the period. Lord Abbett & CO. LLC boosted its stake in Tarsus Pharmaceuticals by 28.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company's stock valued at $19,565,000 after purchasing an additional 131,636 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Tarsus Pharmaceuticals by 2,088.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 440,167 shares of the company's stock valued at $14,477,000 after purchasing an additional 420,057 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Tarsus Pharmaceuticals Price Performance

Shares of NASDAQ:TARS traded down $3.62 during trading on Thursday, reaching $53.32. 587,257 shares of the company traded hands, compared to its average volume of 664,923. The company's 50 day moving average is $52.00 and its two-hundred day moving average is $40.51. The firm has a market capitalization of $2.04 billion, a PE ratio of -13.99 and a beta of 1.01. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30. Tarsus Pharmaceuticals, Inc. has a 52 week low of $20.08 and a 52 week high of $57.28.

Wall Street Analyst Weigh In

TARS has been the subject of several recent research reports. Oppenheimer boosted their price target on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. Barclays upped their target price on Tarsus Pharmaceuticals from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Monday, January 27th. Finally, The Goldman Sachs Group upped their target price on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a "neutral" rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tarsus Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $56.00.

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.