JPMorgan Chase & Co. Buys 420,057 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

JPMorgan Chase & Co. grew its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 2,088.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,167 shares of the company's stock after acquiring an additional 420,057 shares during the period. JPMorgan Chase & Co. owned 1.15% of Tarsus Pharmaceuticals worth $14,477,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in Tarsus Pharmaceuticals by 27.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 122,634 shares of the company's stock worth $3,333,000 after buying an additional 26,225 shares during the period. Rhumbline Advisers lifted its stake in Tarsus Pharmaceuticals by 13.9% in the 2nd quarter. Rhumbline Advisers now owns 49,660 shares of the company's stock valued at $1,350,000 after purchasing an additional 6,070 shares during the last quarter. Quest Partners LLC bought a new position in shares of Tarsus Pharmaceuticals in the 2nd quarter valued at $61,000. Federated Hermes Inc. raised its position in Tarsus Pharmaceuticals by 71.2% in the second quarter. Federated Hermes Inc. now owns 26,483 shares of the company's stock valued at $720,000 after purchasing an additional 11,018 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Tarsus Pharmaceuticals during the 2nd quarter worth approximately $241,000. Institutional investors and hedge funds own 90.01% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on TARS. The Goldman Sachs Group lifted their price objective on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Oppenheimer raised their price objective 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. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $54.20.

Tarsus Pharmaceuticals Stock Down 4.6 %

Shares of NASDAQ TARS traded down $2.55 during mid-day trading on Friday, hitting $52.69. 807,774 shares of the stock traded hands, compared to its average volume of 975,296. The stock has a fifty day moving average price of $51.02 and a 200-day moving average price of $37.66. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -13.83 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. Tarsus Pharmaceuticals, Inc. has a 52 week low of $20.08 and a 52 week high of $57.14.

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.