JPMorgan Chase & Co. Purchases 420,057 Shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

JPMorgan Chase & Co. boosted its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 2,088.8% during the third quarter, HoldingsChannel reports. The fund owned 440,167 shares of the company’s stock after buying an additional 420,057 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tarsus Pharmaceuticals were worth $14,477,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TARS. Jennison Associates LLC raised its stake in Tarsus Pharmaceuticals by 47.2% in the 3rd quarter. Jennison Associates LLC now owns 2,178,580 shares of the company’s stock valued at $71,653,000 after acquiring an additional 698,712 shares during the period. Millennium Management LLC raised its stake 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 acquiring an additional 322,942 shares during the period. Ally Bridge Group NY LLC bought a new stake in Tarsus Pharmaceuticals in the 3rd quarter valued at about $10,587,000. Vestal Point Capital LP bought a new stake in Tarsus Pharmaceuticals in the 3rd quarter valued at about $7,565,000. Finally, Ikarian Capital LLC increased its position in shares of Tarsus Pharmaceuticals by 28.7% during the third quarter. Ikarian Capital LLC now owns 1,030,277 shares of the company’s stock valued at $33,886,000 after buying an additional 230,000 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Tarsus Pharmaceuticals Trading Down 4.6 %

Shares of TARS opened at $52.69 on Friday. The business’s 50-day moving average price is $51.02 and its 200-day moving average price is $37.57. Tarsus Pharmaceuticals, Inc. has a twelve month low of $20.08 and a twelve month high of $57.14. The stock has a market cap of $2.01 billion, a PE ratio of -13.83 and a beta of 1.02. 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 equities research analysts have recently weighed in on TARS shares. Oppenheimer upped their price target on 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 upped their price target on Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday, November 15th. One equities 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. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price 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.