Jersey Police Pension Fund Boosts Tarsus Pharma Stake

The state pension fund now owns 8,626 shares of the clinical-stage biopharmaceutical company worth $349,000 after acquiring an additional 505 shares during the quarter. The move comes as the company advances treatments for eye diseases that affect millions of patients.

Tarsus Pharmaceuticals focuses on developing therapies for diseases of the eye and ocular surface. The company’s lead candidate, OC-01, is an intranasal formulation in Phase 3 development for treating dry eye disease.

Several other institutional investors also adjusted their positions in the company during recent quarters. RFG Advisory LLC purchased a new position worth approximately $888,000, buying 14,941 shares in the third quarter.

Federated Hermes Inc. lifted its holdings by 0.6% during the second quarter, now owning 55,021 shares worth $2,229,000 after buying an additional 339 shares. China Universal Asset Management Co. Ltd. boosted its stake by 9.6% in the second quarter, acquiring an additional 740 shares for a total of 8,438 shares valued at $342,000.

Franklin Resources Inc. grew its holdings by 3.6% during the second quarter, purchasing an additional 750 shares to own 21,402 shares valued at $867,000. Profund Advisors LLC raised its position by 12.7% during the second quarter, buying 1,064 additional shares to own 9,469 shares worth $384,000.

Institutional investors currently own 90.01% of the company’s stock.

Company insiders have been active in recent months. Insider Dianne C. Whitfield sold 7,397 shares on December 16th at an average price of $80.10, generating $592,499.70. The sale represented a 15.96% decrease in her position, leaving her with 38,958 shares valued at approximately $3,120,535.80.

CEO Bobak R. Azamian sold 6,000 shares on December 24th at an average price of $82.51, totaling $495,060. Following the sale, Azamian directly owned 857,991 shares valued at $70,792,837.41, representing a 0.69% decrease in his ownership stake. Insiders own 8.97% of the company’s stock.

Analyst coverage remains mixed but generally positive. Mizuho assumed coverage with an “outperform” rating and $100 target price on November 20th. Wall Street Zen upgraded shares from “hold” to “buy” on November 8th. HC Wainwright boosted its target price from $72 to $88 with a “neutral” rating on October 20th.

However, Weiss Ratings maintained a “sell” rating on January 22nd, and Goldman Sachs reiterated a “neutral” rating with a $68 price target on February 5th. According to MarketBeat, the stock has a consensus “Moderate Buy” rating with an average target price of $82.29.

The company is also advancing preclinical and early-stage programs targeting other ophthalmic conditions, including allergic conjunctivitis and retinal disorders.