JPMorgan Chase & Co. Sells 63,420 Shares of Tarsus Pharmaceuticals, Inc. $TARS

JPMorgan Chase & Co. lowered its position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 45.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,190 shares of the company’s stock after selling 63,420 shares during the period. JPMorgan Chase & Co. owned approximately 0.18% of Tarsus Pharmaceuticals worth $4,587,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Osaic Holdings Inc. boosted its stake in Tarsus Pharmaceuticals by 779.1% in the second quarter. Osaic Holdings Inc. now owns 2,778 shares of the company’s stock valued at $113,000 after acquiring an additional 2,462 shares in the last quarter. West Wealth Group LLC purchased a new position in Tarsus Pharmaceuticals in the third quarter worth $202,000. Valeo Financial Advisors LLC acquired a new position in shares of Tarsus Pharmaceuticals during the third quarter worth $209,000. Tower Research Capital LLC TRC increased its position in shares of Tarsus Pharmaceuticals by 220.3% during the second quarter. Tower Research Capital LLC TRC now owns 4,045 shares of the company’s stock worth $164,000 after purchasing an additional 2,782 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Tarsus Pharmaceuticals during the 3rd quarter valued at $247,000. Institutional investors own 90.01% of the company’s stock.

Tarsus Pharmaceuticals Price Performance

Shares of TARS opened at $70.12 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.85 and a quick ratio of 3.82. The company’s fifty day moving average price is $68.11 and its 200-day moving average price is $70.95. Tarsus Pharmaceuticals, Inc. has a 1-year low of $38.51 and a 1-year high of $85.25. The firm has a market capitalization of $2.98 billion, a PE ratio of -43.28 and a beta of 0.63.

Tarsus Pharmaceuticals (NASDAQ:TARS) last issued its earnings results on Monday, February 23rd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The firm had revenue of $151.67 million during the quarter, compared to analysts’ expectations of $144.56 million. Tarsus Pharmaceuticals had a negative return on equity of 19.63% and a negative net margin of 14.72%. On average, equities research analysts predict that Tarsus Pharmaceuticals, Inc. will post -3.17 EPS for the current year.

Insider Transactions at Tarsus Pharmaceuticals

In related news, Director William J. Phd Link sold 12,500 shares of Tarsus Pharmaceuticals stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $68.79, for a total transaction of $859,875.00. Following the completion of the sale, the director owned 116,332 shares of the company’s stock, valued at $8,002,478.28. The trade was a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Bobak R. Azamian sold 11,964 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $67.00, for a total value of $801,588.00. Following the completion of the sale, the chief executive officer owned 33,421 shares in the company, valued at approximately $2,239,207. This represents a 26.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 79,391 shares of company stock valued at $5,432,035. 8.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on TARS shares. Guggenheim boosted their target price on Tarsus Pharmaceuticals from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Lifesci Capital upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Monday, March 16th. Wall Street Zen downgraded Tarsus Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Oppenheimer boosted their price target on Tarsus Pharmaceuticals from $95.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $68.00 price objective on shares of Tarsus Pharmaceuticals in a report on Thursday, February 5th. Two 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.83.

Tarsus Pharmaceuticals Company Profile

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.