Zacks Investment Research downgraded shares of Tarsus Pharmaceuticals (NASDAQ:TARS) from a hold rating to a sell rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Tarsus Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It is focused on the development and commercialization of therapeutic candidates to address ophthalmic conditions. The company’s product candidate consist TP-03 which is in clinical stage. Tarsus Pharmaceuticals Inc. is based in IRVINE, Calif. “

TARS opened at $27.86 on Wednesday. The firm’s fifty day simple moving average is $33.32. Tarsus Pharmaceuticals has a 52-week low of $15.32 and a 52-week high of $63.69.

Several hedge funds have recently modified their holdings of the business. Citigroup Inc. purchased a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth $48,000. Wells Fargo & Company MN purchased a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth $132,000. New York State Common Retirement Fund purchased a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth $145,000. American International Group Inc. purchased a new stake in shares of Tarsus Pharmaceuticals in the 4th quarter worth $148,000. Finally, State of Wisconsin Investment Board purchased a new stake in shares of Tarsus Pharmaceuticals during the 4th quarter worth $355,000.

About Tarsus Pharmaceuticals

Tarsus Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutic candidates for ophthalmic conditions. Its lead product candidate is TP-03, a novel therapeutic that is in Phase IIb/III for the treatment of blepharitis caused by the infestation of Demodex mites, as well as to treat meibomian gland disease.

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