Vestal Point Capital LP Invests $7.57 Million in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Vestal Point Capital LP purchased a new stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 230,000 shares of the company's stock, valued at approximately $7,565,000. Vestal Point Capital LP owned about 0.60% of Tarsus Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TARS. Assenagon Asset Management S.A. purchased a new position in Tarsus Pharmaceuticals during the second quarter worth $28,904,000. 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. Price T Rowe Associates Inc. MD acquired a new position in Tarsus Pharmaceuticals in the 1st quarter valued at about $12,640,000. Millennium Management LLC lifted its holdings in Tarsus Pharmaceuticals by 1,259.3% in the 2nd quarter. Millennium Management LLC now owns 348,586 shares of the company's stock valued at $9,475,000 after purchasing an additional 322,942 shares in the last quarter. Finally, Ally Bridge Group NY LLC acquired a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter worth about $10,587,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Stock Up 3.2 %

TARS stock traded up $1.61 during trading on Friday, reaching $52.45. 290,714 shares of the stock traded hands, compared to its average volume of 723,093. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38. The business's 50 day moving average price is $40.37 and its 200-day moving average price is $33.19. Tarsus Pharmaceuticals, Inc. has a 52-week low of $15.60 and a 52-week high of $52.99.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TARS shares. 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 research report on Thursday, November 14th. The Goldman Sachs Group boosted their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a "neutral" rating in a report on Friday, November 15th. Finally, William Blair upgraded Tarsus Pharmaceuticals to a "strong-buy" rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $54.20.

Tarsus Pharmaceuticals 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.