Tarsus Pharmaceuticals (NASDAQ:TARS) Shares Down 6.3% - Time to Sell?

Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Get Free Report)'s stock price was down 6.3% during mid-day trading on Tuesday . The company traded as low as $43.61 and last traded at $44.06. Approximately 648,444 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 950,679 shares. The stock had previously closed at $47.02.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TARS shares. The Goldman Sachs Group upped their price objective on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a "neutral" rating in a research note on Friday, November 15th. Oppenheimer upped their price objective on 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals has an average rating of "Buy" and an average price target of $54.20.

Tarsus Pharmaceuticals Price Performance

The company has a current ratio of 5.42, a quick ratio of 5.38 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $51.01 and a 200 day moving average price of $38.02. The stock has a market cap of $1.69 billion, a PE ratio of -11.64 and a beta of 1.02.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $61,000. Canada Pension Plan Investment Board purchased a new position in shares of Tarsus Pharmaceuticals during the 2nd quarter valued at $114,000. FMR LLC lifted its holdings in Tarsus Pharmaceuticals by 236.6% during the 3rd quarter. FMR LLC now owns 5,032 shares of the company's stock worth $166,000 after purchasing an additional 3,537 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Tarsus Pharmaceuticals by 87.5% during the 3rd quarter. SG Americas Securities LLC now owns 7,242 shares of the company's stock worth $238,000 after purchasing an additional 3,379 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Tarsus Pharmaceuticals by 64.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 7,317 shares of the company's stock worth $241,000 after purchasing an additional 2,879 shares in the last quarter. Hedge funds and other institutional investors own 90.01% of the company's stock.

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.