Ally Bridge Group NY LLC Takes Position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Ally Bridge Group NY LLC purchased a new position in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 321,898 shares of the company’s stock, valued at approximately $10,587,000. Tarsus Pharmaceuticals accounts for about 5.7% of Ally Bridge Group NY LLC’s holdings, making the stock its 2nd largest position.

Other hedge funds also recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in Tarsus Pharmaceuticals during the second quarter valued at approximately $61,000. Canada Pension Plan Investment Board purchased a new stake in Tarsus Pharmaceuticals during the 2nd quarter valued at $114,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Tarsus Pharmaceuticals by 33.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,109 shares of the company’s stock valued at $166,000 after buying an additional 1,530 shares during the period. FMR LLC lifted its position in Tarsus Pharmaceuticals by 236.6% in the third quarter. FMR LLC now owns 5,032 shares of the company’s stock worth $166,000 after buying an additional 3,537 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in Tarsus Pharmaceuticals during the second quarter worth $202,000. Hedge funds and other institutional investors own 90.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TARS shares. William Blair raised shares of Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. Oppenheimer increased their price objective on shares of Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, November 14th. Finally, The Goldman Sachs Group boosted their target price 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, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tarsus Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $54.20.

Tarsus Pharmaceuticals Price Performance

Shares of TARS stock opened at $50.84 on Thursday. The company has a market capitalization of $1.94 billion, a P/E ratio of -13.34 and a beta of 1.00. The company’s 50-day simple moving average is $40.37 and its two-hundred day simple moving average is $33.19. Tarsus Pharmaceuticals, Inc. has a one year low of $15.60 and a one year high of $52.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 5.42 and a quick ratio of 5.38.

Tarsus Pharmaceuticals 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.