SCHEDULE 13G/A: Morgan Stanley Reduces Stake in Tarsus Pharmaceuticals Below 5% Threshold

Morgan Stanley has filed an amended Schedule 13G, indicating it has ceased to be a beneficial owner of more than five percent of Tarsus Pharmaceuticals, Inc.'s common stock as of March 31, 2025.

Summary

• Morgan Stanley, a Delaware-based entity, filed an Amendment No. 1 to Schedule 13G regarding its beneficial ownership in Tarsus Pharmaceuticals, Inc.
• As of March 31, 2025, Morgan Stanley ceased to be the beneficial owner of more than five percent of Tarsus Pharmaceuticals, Inc.'s common stock.
• The aggregate amount beneficially owned by Morgan Stanley is 1,943,453 shares, representing 4.7% of the class of securities.
• Of these shares, Morgan Stanley holds shared voting power over 1,932,256 shares and shared dispositive power over 1,943,453 shares.
• The filing confirms that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual regulatory disclosure of a change in beneficial ownership, not inherently positive or negative for the company's operational performance. While a reduction in institutional stake can be viewed negatively by some investors, the filing itself is neutral in tone and purpose.

Positives

• The filing indicates that Morgan Stanley's holdings were acquired and are held in the ordinary course of business, not for the purpose of influencing or changing control of Tarsus Pharmaceuticals, Inc.

Negatives

• Morgan Stanley has reduced its beneficial ownership in Tarsus Pharmaceuticals, Inc. to below the 5% threshold, which could be interpreted by some investors as a decrease in institutional confidence, although the filing does not provide reasons for the reduction.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding Tarsus Pharmaceuticals, Inc.'s future operations or financial performance.

Management Comments

• The filing includes a certification from Morgan Stanley's Authorized Signatory, Christopher O'Hara, stating that "to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11."

Industry Context

This filing is a standard regulatory disclosure required when an institutional investor's beneficial ownership crosses certain thresholds (in this case, falling below 5%). It does not provide broader industry trends or competitive analysis for Tarsus Pharmaceuticals, Inc.

Stakeholder Impact

• Shareholders of Tarsus Pharmaceuticals, Inc. may perceive the reduction in Morgan Stanley's stake as a signal, potentially influencing investor sentiment and share price.

Key Dates

Keywords

Tarsus Pharmaceuticals, Morgan Stanley, SEC filing, Schedule 13G, beneficial ownership, institutional ownership, common stock, ownership change