Federated Hermes Inc. Lowers Stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Federated Hermes Inc. reduced its holdings in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 29.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 54,682 shares of the company's stock after selling 23,032 shares during the period. Federated Hermes Inc. owned approximately 0.13% of Tarsus Pharmaceuticals worth $2,809,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new position in Tarsus Pharmaceuticals during the 4th quarter worth $44,000. Amalgamated Bank grew its position in Tarsus Pharmaceuticals by 30.1% during the 1st quarter. Amalgamated Bank now owns 1,274 shares of the company's stock worth $65,000 after purchasing an additional 295 shares during the last quarter. Quarry LP purchased a new position in Tarsus Pharmaceuticals during the 4th quarter worth $166,000. Summit Investment Advisors Inc. grew its position in Tarsus Pharmaceuticals by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,848 shares of the company's stock worth $213,000 after purchasing an additional 244 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in shares of Tarsus Pharmaceuticals in the fourth quarter valued at about $228,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Stock Up 2.7%

Shares of NASDAQ TARS opened at $41.91 on Tuesday. The company has a quick ratio of 5.54, a current ratio of 5.57 and a debt-to-equity ratio of 0.21. Tarsus Pharmaceuticals, Inc. has a 52 week low of $20.08 and a 52 week high of $57.28. The firm has a 50-day moving average price of $41.38 and a 200 day moving average price of $45.75. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -15.35 and a beta of 0.79.

Wall Street Analyst Weigh In

TARS has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on shares of Tarsus Pharmaceuticals from $46.00 to $51.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. HC Wainwright raised shares of Tarsus Pharmaceuticals to a "buy" rating and set a $72.00 target price on the stock in a report on Tuesday, May 27th. Guggenheim lifted their target price on shares of Tarsus Pharmaceuticals from $78.00 to $84.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Oppenheimer initiated coverage on shares of Tarsus Pharmaceuticals in a report on Monday, June 2nd. They issued an "outperform" rating and a $75.00 target price on the stock. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.67.

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.

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