TARSUS PHARMACEUTICALS INC TARS
COM · Common Stock · CUSIP 87650L103 · ISIN US87650L1035
- SectorHealth care
- IndustryBiological Products, (No Diagnostic Substances)
- HeadquartersIrvine, CA
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($3.4m this quarter). Holder counts are more reliable. Shares outstanding: 38.2m as of 2024-11-07, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $32.89. Options: 9 managers hold calls ($17.5m notional), 2 hold puts ($134.8k).
Trends to Q3 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 75 |
| Q4 2022 | 70 |
| Q1 2023 | 75 |
| Q2 2023 | 93 |
| Q3 2023 | 106 |
| Q4 2023 | 117 |
| Q1 2024 | 158 |
| Q2 2024 | 149 |
| Q3 2024 | 163 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 35 | 33 |
| Q1 2023 | 37 | 25 |
| Q2 2023 | 63 | 22 |
| Q3 2023 | 74 | 25 |
| Q4 2023 | 71 | 38 |
| Q1 2024 | 107 | 38 |
| Q2 2024 | 90 | 75 |
| Q3 2024 | 93 | 69 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2023 | $3.0m | $457.6k | 0.15 |
| Q1 2024 | $7.5m | $4.3m | 0.57 |
| Q2 2024 | $2.3m | $22.0m | 9.71 |
| Q3 2024 | $17.5m | $134.8k | 0.01 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +840.1k |
| JENNISON ASSOCIATES LLC | Added | +698.7k |
| MORGAN STANLEY | Added | +323.9k |
| Ally Bridge Group (NY) LLC | New | +321.9k |
| Invesco Ltd. | Added | +290.5k |
| Ikarian Capital, LLC | Added | +230.0k |
| Vestal Point Capital, LP | New | +230.0k |
| ExodusPoint Capital Management, LP | Added | +212.6k |
| AIGH Capital Management LLC | New | +204.4k |
| Clearbridge Investments, LLC | New | +191.4k |
Biggest sellers
| Vivo Capital, LLC | Sold out | -565.5k |
| Driehaus Capital Management LLC | Sold out | -364.5k |
| LORD, ABBETT & CO. LLC | Reduced | -331.6k |
| TCG Crossover Management, LLC | Reduced | -324.5k |
| Nuveen Asset Management, LLC | Reduced | -244.4k |
| BOONE CAPITAL MANAGEMENT LLC | Sold out | -216.0k |
| Integral Health Asset Management, LLC | Reduced | -215.0k |
| Qube Research & Technologies Ltd | Reduced | -162.2k |
| TWO SIGMA INVESTMENTS, LP | Reduced | -138.3k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -126.1k |
Biggest calls
| Caption Management, LLC | New | $9.9m300.1k shares |
| J. Goldman & Co LP | New | $3.1m94.5k shares |
| JANE STREET GROUP, LLC | Added | $1.4m41.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $907.8k27.6k shares |
| SIMPLEX TRADING, LLC | Added | $812.0k24.7k shares |
| GROUP ONE TRADING LLC | Added | $802.5k24.4k shares |
| CITADEL ADVISORS LLC | Added | $486.8k14.8k shares |
| ADAR1 Capital Management, LLC | New | $164.4k5.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $134.8k4.1k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Deep Track Capital, LP 13G · passive investor +1.4 pts · filed 2026-05-15 | 8.5% |
| RTW INVESTMENTS, LP 13G · institution filed 2025-08-14 | 8.1% |
| BlackRock, Inc. 13G · institution filed 2025-04-24 | 7.4% |
| Janus Henderson Group Ltd. 13G · institution +1.2 pts · filed 2026-08-13 | 6.5% |
Fell to 5% or below in the last year: PRUDENTIAL FINANCIAL INC (4.3%, 2026-05-08), JENNISON ASSOCIATES LLC (4.0%, 2026-05-06), VANGUARD GROUP INC (0.0%, 2026-03-27), TANG CAPITAL MANAGEMENT LLC (2.8%, 2026-02-17)
Insider purchases and sales in Q3 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2022 | 0 | — | 5 | $1.3m | — |
| Q1 2023 | 0 | — | 8 | $1.2m | — |
| Q2 2023 | 0 | — | 3 | $1.1m | $1.1m |
| Q3 2023 | 1 | $159.7k | 2 | $2.6m | $2.6m |
| Q4 2023 | 1 | $19.0k | 4 | $1.6m | $1.3m |
| Q1 2024 | 0 | — | 5 | $881.6k | — |
| Q2 2024 | 0 | — | 1 | $286.9k | — |
| Q3 2024 | 0 | — | 1 | $913.0k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-08-12 | LINK WILLIAM J PHD Director · By Flying L Partners XI, LLC | Sold | $779.8k30.0k shares |
| 2024-08-12 | LINK WILLIAM J PHD Director | Sold | $133.2k5.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q3 2024
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.00% of their portfolio | 3.8m $123.5m | First filing |
| RTW INVESTMENTS, LP 1.62% of their portfolio | 3.4m $112.2m | Unchanged |
| Paradigm Biocapital Advisors LP 2.81% of their portfolio | 2.4m $80.3m | Added +5.0k |
| TANG CAPITAL MANAGEMENT LLC 5.30% of their portfolio | 2.3m $74.2m | Unchanged |
| MORGAN STANLEY 0.01% of their portfolio | 2.2m $72.6m | Added +323.9k |
| COWEN AND COMPANY, LLC 2.49% of their portfolio | 2.2m $72.3m | Unchanged |
| JENNISON ASSOCIATES LLC 0.04% of their portfolio | 2.2m $71.7m | Added +698.7k |
| VANGUARD GROUP INC 0.00% of their portfolio | 2.1m $69.0m | Added +107.6k |
| Frazier Life Sciences Management, L.P. 2.09% of their portfolio | 1.6m $52.2m | Unchanged |
| PERCEPTIVE ADVISORS LLC 0.91% of their portfolio | 1.3m $42.6m | Unchanged |
| Assenagon Asset Management S.A. 0.08% of their portfolio | 1.1m $37.5m | Added +77.8k |
| Ikarian Capital, LLC 10.52% of their portfolio | 1.0m $33.9m | Added +230.0k |
| STATE STREET CORP 0.00% of their portfolio | 899.4k $29.6m | Reduced -26.3k |
| ExodusPoint Capital Management, LP 0.30% of their portfolio | 883.0k $29.0m | Added +212.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 880.3k $29.0m | Added +840.1k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 835.8k $27.5m | Added +62.6k |
| Artisan Partners Limited Partnership 0.03% of their portfolio | 709.0k $23.3m | Added +81.4k |
| Invesco Ltd. 0.00% of their portfolio | 682.1k $22.4m | Added +290.5k |
| Tetragon Partners GP Ltd 6.44% of their portfolio | 614.1k $20.2m | Added +114.1k |
| MACQUARIE GROUP LTD 0.02% of their portfolio | 594.9k $19.6m | Added +139.9k |
| LORD, ABBETT & CO. LLC 0.06% of their portfolio | 594.9k $19.6m | Reduced -331.6k |
| Ensign Peak Advisors, Inc 0.03% of their portfolio | 587.0k $19.3m | Reduced -7.3k |
| J. Goldman & Co LP 0.80% of their portfolio | 557.5k $18.3m | Added +170.3k |
| Cormorant Asset Management, LP 0.87% of their portfolio | 500.0k $16.4m | Unchanged |
| Jefferies Financial Group Inc. 0.23% of their portfolio | 420.8k $13.8m | Unchanged |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 404.0k $13.3m | Reduced -2.9k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 384.5k $12.6m | Added +177.0k |
| Integral Health Asset Management, LLC 1.45% of their portfolio | 375.0k $12.3m | Reduced -215.0k |
| Ghost Tree Capital, LLC 4.17% of their portfolio | 350.0k $11.5m | Added +115.0k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.03% of their portfolio | 338.4k $11.1m | Reduced -51.2k |
| Ally Bridge Group (NY) LLC 5.67% of their portfolio | 321.9k $10.6m | New |
| NORTHERN TRUST CORP 0.00% of their portfolio | 317.6k $10.4m | Added +64.5k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 296.0k $9.7m | Reduced -138.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 290.0k $9.5m | Added +28.1k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.27% of their portfolio | 275.6k $9.1m | Added +75.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 268.8k $8.8m | Added +63.2k |
| TWO SIGMA ADVISERS, LP 0.02% of their portfolio | 256.4k $8.4m | Reduced -51.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 239.3k $7.9m | Reduced -52.0k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 233.5k $7.7m | Reduced -9.6k |
| TCG Crossover Management, LLC 0.65% of their portfolio | 231.8k $7.6m | Reduced -324.5k |
| Vestal Point Capital, LP 0.60% of their portfolio | 230.0k $7.6m | New |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 222.5k $7.3m | Reduced -126.1k |
| Allspring Global Investments Holdings, LLC 0.01% of their portfolio | 210.5k $6.9m | Added +29.5k |
| AIGH Capital Management LLC 3.15% of their portfolio | 204.4k $6.7m | New |
| Clearbridge Investments, LLC 0.00% of their portfolio | 191.4k $6.3m | New |
| Schonfeld Strategic Advisors LLC 0.05% of their portfolio | 187.5k $6.2m | Added +159.4k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 182.1k $6.0m | Reduced -87.7k |
| Sands Capital Alternatives, LLC 1.57% of their portfolio | 170.0k $5.6m | Unchanged |
| Baird Financial Group, Inc. 0.01% of their portfolio | 146.4k $4.8m | Added +22.7k |
| EMERALD ADVISERS, LLC 0.19% of their portfolio | 146.3k $4.8m | New |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 145.3k $4.8m | Added +18.0k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 140.7k $4.6m | Reduced -244.4k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 130.5k $4.3m | New |
| EMERALD MUTUAL FUND ADVISERS TRUST 0.19% of their portfolio | 109.7k $3.6m | New |
| ESSEX INVESTMENT MANAGEMENT CO LLC 0.63% of their portfolio | 109.2k $3.6m | New |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 103.5k $3.4m | Added +24.0k |
| Aberdeen Group plc 0.01% of their portfolio | 102.6k $3.4m | Unchanged |
| Bank of New York Mellon Corp 0.00% of their portfolio | 101.4k $3.3m | Reduced -21.2k |
| BARCLAYS PLC 0.00% of their portfolio | 98.7k $3.2m | Added +76.5k |
| Exome Asset Management LLC 1.02% of their portfolio | 91.2k $3.0m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 79.2k $2.6m | Added +63.2k |
| Jump Financial, LLC 0.05% of their portfolio | 75.0k $2.5m | New |
| Woodline Partners LP 0.02% of their portfolio | 71.6k $2.4m | New |
| UBS Group AG 0.00% of their portfolio | 69.3k $2.3m | Added +41.3k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 64.7k $2.1m | Reduced -162.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 58.8k $1.9m | Added +5.7k |
| Squarepoint Ops LLC 0.01% of their portfolio | 57.3k $1.9m | New |
| Grant/GrossMendelsohn, LLC 0.76% of their portfolio | 53.6k $1.8m | Added +30 |
| Swiss National Bank 0.00% of their portfolio | 51.7k $1.7m | Added +4.4k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 48.5k $1.6m | Reduced -1.1k |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 47.1k $1.5m | Reduced -38.3k |
| E. Ohman J:or Asset Management AB 0.04% of their portfolio | 47.0k $1.5m | Added +8.0k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 45.4k $1.5m | Reduced -1.7k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 44.6k $1.5m | Added +5.1k |
| Legato Capital Management LLC 0.18% of their portfolio | 44.2k $1.5m | New |
| Brevan Howard Capital Management LP 0.07% of their portfolio | 43.4k $1.4m | New |
| SILVERARC CAPITAL MANAGEMENT, LLC 0.30% of their portfolio | 40.0k $1.3m | Unchanged |
| Lisanti Capital Growth, LLC 0.33% of their portfolio | 39.8k $1.3m | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 39.6k $1.3m | Added +26.1k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 39.3k $1.3m | Reduced -8.8k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 38.2k $1.3m | Added +3.1k |
| Advisory Services Network, LLC 0.02% of their portfolio | 37.8k $1.0m | Unchanged |
| SEI INVESTMENTS CO 0.00% of their portfolio | 35.5k $1.2m | Added +14.2k |
| CITIGROUP INC 0.00% of their portfolio | 33.4k $1.1m | Added +17.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 32.9k $1.1m | Reduced -353 |
| TD Asset Management Inc 0.00% of their portfolio | 29.8k $968.4k | Reduced -5.6k |
| ALPS ADVISORS INC 0.01% of their portfolio | 29.2k $961.8k | Reduced -226 |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 27.6k $907.1k | Reduced -51.3k |
| ADAR1 Capital Management, LLC 0.14% of their portfolio | 25.9k $851.9k | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 25.8k $847.0k | Added +1.3k |
| Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio | 25.1k $825.0k | Added +2.1k |
| Legal & General Group Plc 0.00% of their portfolio | 24.6k $808.4k | Added +93 |
| Verition Fund Management LLC 0.01% of their portfolio | 23.2k $763.0k | New |
| GSA CAPITAL PARTNERS LLP 0.06% of their portfolio | 22.5k $740.0k | New |
| MetLife Investment Management, LLC 0.00% of their portfolio | 21.5k $707.3k | Unchanged |
| Janney Montgomery Scott LLC 0.00% of their portfolio | 21.1k $693.0k | Reduced -2.0k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 20.2k $664.4k | Added +5.6k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 19.9k $655.2k | Added +12.4k |
| Corebridge Financial, Inc. 0.00% of their portfolio | 19.7k $646.9k | Reduced -121 |
| HARBOR CAPITAL ADVISORS, INC. 0.03% of their portfolio | 18.1k $595.0k | Added +6.6k |