Aclaris Therapeutics (NASDAQ:ACRS) Shares Up 8.4% – Here’s What Happened

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) shares traded up 8.4% during trading on Monday . The company traded as high as $4.84 and last traded at $4.88. Approximately 709,843 shares traded hands during trading, a decline of 62% from the average daily volume of 1,887,893 shares. The stock had previously closed at $4.50.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group set a $10.00 price objective on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th. Piper Sandler boosted their price target on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Wedbush upped their price target on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $11.50.

Aclaris Therapeutics Stock Performance

The firm has a market capitalization of $675.26 million, a P/E ratio of -8.61 and a beta of 0.76. The firm has a 50 day moving average price of $4.44 and a two-hundred day moving average price of $3.72.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%.The company had revenue of $2.00 million for the quarter, compared to analyst estimates of $1.32 million. Equities research analysts forecast that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of Aclaris Therapeutics stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total value of $1,359,000.00. Following the transaction, the insider owned 13,950,000 shares of the company’s stock, valued at approximately $63,193,500. This trade represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds have recently bought and sold shares of ACRS. R Squared Ltd purchased a new position in shares of Aclaris Therapeutics in the fourth quarter worth approximately $37,000. AXQ Capital LP purchased a new stake in shares of Aclaris Therapeutics in the 3rd quarter valued at approximately $27,000. Strs Ohio purchased a new stake in shares of Aclaris Therapeutics in the 1st quarter valued at approximately $60,000. CIBC Asset Management Inc acquired a new position in Aclaris Therapeutics in the 4th quarter worth approximately $52,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Aclaris Therapeutics in the 4th quarter worth approximately $53,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.