Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Tarsus Pharmaceuticals, Inc. (NASDAQ:TARS) by 44.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,060 shares of the company’s stock after selling 38,263 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Tarsus Pharmaceuticals worth $1,548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its position in Tarsus Pharmaceuticals by 38,907.8% during the 1st quarter. Russell Investments Group Ltd. now owns 30,036 shares of the company’s stock worth $1,092,000 after acquiring an additional 29,959 shares during the period. Vanguard Group Inc. boosted its position in Tarsus Pharmaceuticals by 14.5% in the first quarter. Vanguard Group Inc. now owns 1,826,632 shares of the company’s stock valued at $66,398,000 after buying an additional 231,131 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in Tarsus Pharmaceuticals in the first quarter valued at approximately $12,640,000. Janus Henderson Group PLC acquired a new position in Tarsus Pharmaceuticals in the 1st quarter worth approximately $313,000. Finally, Assenagon Asset Management S.A. purchased a new position in Tarsus Pharmaceuticals during the 2nd quarter worth approximately $28,904,000. 90.01% of the stock is owned by hedge funds and other institutional investors.

Tarsus Pharmaceuticals Price Performance

Tarsus Pharmaceuticals stock opened at $49.66 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.38 and a current ratio of 5.42. The stock has a market capitalization of $1.90 billion, a P/E ratio of -13.03 and a beta of 1.00. Tarsus Pharmaceuticals, Inc. has a 1 year low of $15.60 and a 1 year high of $52.99. The company’s fifty day moving average price is $40.00 and its 200 day moving average price is $33.06.

Analyst Ratings Changes

A number of analysts have recently weighed in on TARS shares. The Goldman Sachs Group increased their price objective on shares of Tarsus Pharmaceuticals from $36.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, November 15th. Oppenheimer lifted their price objective on Tarsus Pharmaceuticals from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, November 14th. Finally, William Blair upgraded Tarsus Pharmaceuticals to a “strong-buy” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $54.20.

About Tarsus Pharmaceuticals

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.