Aclaris Therapeutics, Inc. $ACRS Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 21.6% in the third quarter, Holdings Channel.com reports. The fund owned 758,576 shares of the biotechnology company’s stock after acquiring an additional 134,784 shares during the quarter. JPMorgan Chase & Co.’s holdings in Aclaris Therapeutics were worth $1,441,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. grew its position in Aclaris Therapeutics by 2.2% in the third quarter. Raymond James Financial Inc. now owns 283,476 shares of the biotechnology company’s stock worth $539,000 after acquiring an additional 6,217 shares during the period. Rhumbline Advisers grew its position in Aclaris Therapeutics by 7.4% in the third quarter. Rhumbline Advisers now owns 91,236 shares of the biotechnology company’s stock worth $173,000 after acquiring an additional 6,271 shares during the period. BNP Paribas Financial Markets grew its position in Aclaris Therapeutics by 59.0% in the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock worth $51,000 after acquiring an additional 9,894 shares during the period. AXQ Capital LP purchased a new position in Aclaris Therapeutics in the third quarter worth approximately $27,000. Finally, XTX Topco Ltd purchased a new position in Aclaris Therapeutics in the second quarter worth approximately $34,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ACRS shares. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Aclaris Therapeutics in a research report on Thursday, March 19th. Wall Street Zen upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Friday, March 27th. Wedbush reiterated an “outperform” rating and issued a $8.00 price objective on shares of Aclaris Therapeutics in a research report on Tuesday, March 31st. Finally, Craig Hallum started coverage on Aclaris Therapeutics in a research report on Friday, January 30th. They issued a “buy” rating and a $10.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.80.

Aclaris Therapeutics Stock Up 5.3%

ACRS opened at $3.95 on Thursday. Aclaris Therapeutics, Inc. has a 52 week low of $1.05 and a 52 week high of $4.89. The business has a fifty day simple moving average of $3.49 and a 200-day simple moving average of $2.93. The firm has a market cap of $476.37 million, a P/E ratio of -7.45 and a beta of 0.67.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Aclaris Therapeutics had a negative return on equity of 52.04% and a negative net margin of 829.58%.The firm had revenue of $1.30 million for the quarter, compared to analysts’ expectations of $2.07 million. Sell-side analysts expect that Aclaris Therapeutics, Inc. will post -0.82 earnings per share for the current year.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc (NASDAQ:ACRS) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing novel small‐molecule therapies for dermatologic diseases and related rare disorders. The company’s pipeline includes several product candidates designed to address chronic inflammatory skin conditions and non‐melanoma skin lesions. Lead programs include ATI‐50002, a topical agent in late‐stage development for molluscum contagiosum removal; ATI‐50003 for common wart resolution; ATI‐1501, an oral JAK1/2 inhibitor targeting pruritic disorders; and ATI‐450, an oral MK2 inhibitor for inflammatory indications.

Founded in 2016 and headquartered in Malvern, Pennsylvania, Aclaris leverages proprietary chemistry platforms and translational research capabilities to advance multiple clinical and preclinical candidates.