Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Gap Down - Time to Sell?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $52.69, but opened at $49.97. Tarsus Pharmaceuticals shares last traded at $46.70, with a volume of 205,404 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a "neutral" rating in a research note on Friday, November 15th. Oppenheimer lifted their target price on shares of Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, November 14th. One 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $54.20.

Tarsus Pharmaceuticals Stock Performance

The stock has a market capitalization of $1.80 billion, a P/E ratio of -12.34 and a beta of 1.02. The stock has a 50 day simple moving average of $51.04 and a two-hundred day simple moving average of $37.90. The company has a quick ratio of 5.38, a current ratio of 5.42 and a debt-to-equity ratio of 0.30.

Hedge Funds Weigh In On Tarsus Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in Tarsus Pharmaceuticals by 47.2% during the 3rd quarter. Jennison Associates LLC now owns 2,178,580 shares of the company's stock worth $71,653,000 after purchasing an additional 698,712 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Tarsus Pharmaceuticals by 2,088.8% in the third 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 in the last quarter. Millennium Management LLC grew its holdings in shares of Tarsus Pharmaceuticals by 1,259.3% in the second quarter. Millennium Management LLC now owns 348,586 shares of the company's stock valued at $9,475,000 after acquiring an additional 322,942 shares in the last quarter. Ally Bridge Group NY LLC purchased a new position in Tarsus Pharmaceuticals in the third quarter valued at about $10,587,000. Finally, Vestal Point Capital LP purchased a new stake in Tarsus Pharmaceuticals in the 3rd quarter worth about $7,565,000. 90.01% of the stock is currently owned by institutional investors and hedge funds.

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.