JPMorgan Chase & Co. Sells 310,983 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

JPMorgan Chase & Co. trimmed its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 70.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,184 shares of the company's stock after selling 310,983 shares during the period. JPMorgan Chase & Co. owned approximately 0.34% of Tarsus Pharmaceuticals worth $7,153,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Jennison Associates LLC lifted its holdings in Tarsus Pharmaceuticals by 14.8% during the 4th quarter. Jennison Associates LLC now owns 2,500,132 shares of the company's stock worth $138,432,000 after buying an additional 321,552 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Tarsus Pharmaceuticals by 28.4% during the third quarter. Lord Abbett & CO. LLC now owns 594,876 shares of the company's stock valued at $19,565,000 after acquiring an additional 131,636 shares during the period. Barclays PLC lifted its stake in shares of Tarsus Pharmaceuticals by 345.9% during the third quarter. Barclays PLC now owns 98,663 shares of the company's stock valued at $3,246,000 after acquiring an additional 76,538 shares during the period. Geode Capital Management LLC boosted its holdings in Tarsus Pharmaceuticals by 8.1% in the third quarter. Geode Capital Management LLC now owns 835,790 shares of the company's stock valued at $27,494,000 after acquiring an additional 62,555 shares during the last quarter. Finally, Lisanti Capital Growth LLC increased its position in Tarsus Pharmaceuticals by 143.3% in the fourth quarter. Lisanti Capital Growth LLC now owns 96,935 shares of the company's stock worth $5,367,000 after purchasing an additional 57,090 shares during the period. 90.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Dianne C. Whitfield sold 2,137 shares of the stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $50.11, for a total transaction of $107,085.07. Following the completion of the transaction, the insider now owns 46,355 shares in the company, valued at approximately $2,322,849.05. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Bryan Wahl sold 3,341 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.29, for a total value of $154,654.89. Following the transaction, the general counsel now directly owns 58,057 shares of the company's stock, valued at $2,687,458.53. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,542 shares of company stock valued at $1,581,173. Company insiders own 8.25% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on TARS. Barclays cut their target price on shares of Tarsus Pharmaceuticals from $62.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating and set a $78.00 target price (up previously from $75.00) on shares of Tarsus Pharmaceuticals in a research report on Monday, February 24th. HC Wainwright reissued a "buy" rating and issued a $73.00 price target on shares of Tarsus Pharmaceuticals in a research note on Wednesday, February 26th. Jefferies Financial Group lifted their price objective on Tarsus Pharmaceuticals from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, Oppenheimer increased their target price on Tarsus Pharmaceuticals from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, January 22nd. One research 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 MarketBeat, Tarsus Pharmaceuticals presently has a consensus rating of "Buy" and an average price target of $63.67.

Tarsus Pharmaceuticals Trading Up 1.9 %

NASDAQ:TARS traded up $0.93 on Tuesday, reaching $49.44. The company's stock had a trading volume of 720,836 shares, compared to its average volume of 684,482. Tarsus Pharmaceuticals, Inc. has a 1-year low of $20.08 and a 1-year high of $57.28. The business's 50-day moving average price is $47.63 and its two-hundred day moving average price is $48.01. The firm has a market cap of $1.90 billion, a PE ratio of -12.98 and a beta of 0.94. 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 (NASDAQ:TARS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.08. The business had revenue of $66.41 million during the quarter, compared to analyst estimates of $58.80 million. Tarsus Pharmaceuticals had a negative return on equity of 55.86% and a negative net margin of 103.64%. Equities research analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -3.17 earnings per share for the current fiscal year.

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.