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

Key Points

• Jennison Associates cut its stake in Tarsus by 14.4%, selling 374,511 shares in Q4 and now holds 2,230,069 shares (about 5.25% of the company) valued at roughly $182.6 million.
• 90.01% institutional ownership remains high as several funds (e.g., Jane Street, JPMorgan, Invesco) increased positions, while insiders sold about 79,391 shares (~$5.43M) in the last 90 days (insiders now own 8.97%).
• Tarsus has a market cap of $2.59B and a one-year trading range of $38.51–$85.25; analysts give a consensus rating of "Moderate Buy" with an average price target of $90.67, following a quarterly EPS miss but revenue beat.

Jennison Associates LLC cut its stake in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS - Free Report) by 14.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,230,069 shares of the company's stock after selling 374,511 shares during the quarter. Jennison Associates LLC owned about 5.25% of Tarsus Pharmaceuticals worth $182,598,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TARS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Tarsus Pharmaceuticals by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,143 shares of the company's stock worth $1,137,000 after purchasing an additional 1,217 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Tarsus Pharmaceuticals by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 71,220 shares of the company's stock worth $3,659,000 after purchasing an additional 1,394 shares in the last quarter. Jane Street Group LLC raised its holdings in Tarsus Pharmaceuticals by 105.8% in the 1st quarter. Jane Street Group LLC now owns 10,456 shares of the company's stock worth $537,000 after purchasing an additional 190,000 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Tarsus Pharmaceuticals by 402.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 140,610 shares of the company's stock worth $5,696,000 after buying an additional 112,637 shares during the period. Finally, Invesco Ltd. grew its position in shares of Tarsus Pharmaceuticals by 12.3% in the 2nd quarter. Invesco Ltd. now owns 928,501 shares of the company's stock worth $37,614,000 after buying an additional 101,978 shares during the period. 90.01% of the stock is currently owned by institutional investors.

Tarsus Pharmaceuticals Stock Performance

Shares of TARS stock opened at $60.87 on Thursday. Tarsus Pharmaceuticals, Inc. has a one year low of $38.51 and a one year high of $85.25. The company's 50-day moving average is $69.10 and its 200 day moving average is $72.11. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -37.59 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.82 and a current ratio of 3.85.

Tarsus Pharmaceuticals (NASDAQ:TARS - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $151.67 million for the quarter, compared to analysts' expectations of $144.56 million. Sell-side analysts expect that Tarsus Pharmaceuticals, Inc. will post -0.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TARS. Oppenheimer began coverage on shares of Tarsus Pharmaceuticals in a research report on Friday, April 24th. They issued an "outperform" rating and a $98.00 target price on the stock. Zacks Research downgraded shares of Tarsus Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Lifesci Capital raised shares of Tarsus Pharmaceuticals to a "strong-buy" rating in a research report on Monday, March 16th. Wall Street Zen downgraded shares of Tarsus Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tarsus Pharmaceuticals in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $90.67.

Insider Activity at Tarsus Pharmaceuticals

In related news, insider Elizabeth Yeu Lin sold 390 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $67.00, for a total transaction of $26,130.00. Following the sale, the insider directly owned 23,308 shares of the company's stock, valued at approximately $1,561,636. This represents a 1.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dianne C. Whitfield sold 4,174 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $67.00, for a total transaction of $279,658.00. Following the sale, the insider directly owned 35,028 shares in the company, valued at $2,346,876. This trade represents a 10.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 79,391 shares of company stock worth $5,432,035 in the last ninety days. 8.97% of the stock is currently owned by company insiders.

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.

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