Lord Abbett & CO. LLC Acquires 131,636 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Lord Abbett & CO. LLC lifted its position in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 28.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 594,876 shares of the company's stock after acquiring an additional 131,636 shares during the period. Lord Abbett & CO. LLC owned approximately 1.56% of Tarsus Pharmaceuticals worth $19,565,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of Tarsus Pharmaceuticals in the second quarter worth $61,000. Canada Pension Plan Investment Board purchased a new position in Tarsus Pharmaceuticals in the 2nd quarter worth about $114,000. FMR LLC lifted its stake in Tarsus Pharmaceuticals by 236.6% during the 3rd 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 boosted its holdings in shares of Tarsus Pharmaceuticals by 33.4% during the 2nd 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 during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Tarsus Pharmaceuticals by 87.5% during the 3rd quarter. SG Americas Securities LLC now owns 7,242 shares of the company's stock valued at $238,000 after acquiring an additional 3,379 shares during the last quarter. 90.01% of the stock is currently owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Stock Performance

TARS traded down $0.77 during trading on Monday, hitting $51.73. The company's stock had a trading volume of 473,595 shares, compared to its average volume of 713,356. The business's 50 day simple moving average is $45.09 and its 200-day simple moving average is $34.49. The firm has a market cap of $1.98 billion, a PE ratio of -13.58 and a beta of 1.04. Tarsus Pharmaceuticals, Inc. has a one year low of $18.44 and a one year high of $54.44. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30.

Analysts Set New Price Targets

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

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.