Jennison Associates LLC Sells 374,511 Shares of Tarsus Pharmaceuticals, Inc. $TARS

Jennison Associates LLC lessened its holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 14.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,230,069 shares of the company’s stock after selling 374,511 shares during the period. Jennison Associates LLC owned approximately 0.05% of Tarsus Pharmaceuticals worth $182,598,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. raised its stake in Tarsus Pharmaceuticals by 0.6% during the 2nd quarter. Federated Hermes Inc. now owns 55,021 shares of the company’s stock worth $2,229,000 after acquiring an additional 339 shares during the period. Creative Planning raised its stake in Tarsus Pharmaceuticals by 3.3% during the 3rd quarter. Creative Planning now owns 12,367 shares of the company’s stock worth $735,000 after acquiring an additional 393 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Tarsus Pharmaceuticals by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,063 shares of the company’s stock worth $169,000 after acquiring an additional 431 shares during the period. Comerica Bank raised its stake in Tarsus Pharmaceuticals by 470.0% during the 4th quarter. Comerica Bank now owns 855 shares of the company’s stock worth $70,000 after acquiring an additional 705 shares during the period. Finally, Franklin Resources Inc. raised its stake in Tarsus Pharmaceuticals by 3.6% during the 3rd quarter. Franklin Resources Inc. now owns 22,183 shares of the company’s stock worth $1,318,000 after acquiring an additional 781 shares during the period. Institutional investors own 90.01% of the company’s stock.

Insider Buying and Selling

In related news, insider Dianne C. Whitfield sold 4,174 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $67.00, for a total value of $279,658.00. Following the completion of the sale, the insider directly owned 35,028 shares of the company’s stock, valued at $2,346,876. This represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Elizabeth Yeu Lin sold 390 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $67.00, for a total transaction of $26,130.00. Following the completion of the sale, the insider directly owned 23,308 shares of the company’s stock, valued at approximately $1,561,636. This trade represents a 1.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 79,391 shares of company stock valued at $5,432,035 over the last quarter. 8.97% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TARS shares. Oppenheimer assumed coverage on shares of Tarsus Pharmaceuticals in a research note on Friday, April 24th. They set an “outperform” rating and a $98.00 target price on the stock. Wall Street Zen lowered shares of Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, April 18th. Guggenheim increased their price objective on shares of Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Lifesci Capital raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a report on Monday, March 16th. Finally, Zacks Research lowered shares of Tarsus Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.67.

Tarsus Pharmaceuticals Trading Up 0.3%

TARS stock opened at $60.87 on Thursday. The firm has a fifty day moving average price of $69.10 and a 200 day moving average price of $72.11. Tarsus Pharmaceuticals, Inc. has a fifty-two week low of $38.51 and a fifty-two week high of $85.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.82 and a current ratio of 3.85. The firm has a market cap of $2.59 billion, a PE ratio of -37.59 and a beta of 0.63.

Tarsus Pharmaceuticals (NASDAQ:TARS) last posted its earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Tarsus Pharmaceuticals had a negative net margin of 14.72% and a negative return on equity of 19.63%. The business had revenue of $151.67 million during the quarter, compared to analysts’ expectations of $144.56 million. Sell-side analysts anticipate that Tarsus Pharmaceuticals, Inc. will post -0.77 earnings per share for the current fiscal year.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc is a clinical?stage biopharmaceutical company focused on developing novel therapies for diseases of the eye and ocular surface. The company’s research platform centers on neuro?effector modulation to address underlying disease mechanisms rather than solely treating symptoms. Tarsus’s lead candidate, OC-01 (varenicline solution), is an intranasal formulation in Phase 3 development for the treatment of dry eye disease, a condition affecting millions worldwide and associated with significant patient discomfort and reduced quality of life.

In addition to its dry eye program, Tarsus is advancing preclinical and early?stage programs targeting other ophthalmic indications, including allergic conjunctivitis and retinal disorders.