Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Director Purchases $1,499,998.50 in Stock

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Director Anand Mehra purchased 666,666 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average cost of $2.25 per share, with a total value of $1,499,998.50. Following the completion of the acquisition, the director now directly owns 710,030 shares of the company’s stock, valued at $1,597,567.50. This represents a 1,537.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Aclaris Therapeutics Stock Down 12.0 %

NASDAQ ACRS opened at $3.80 on Friday. The firm has a market cap of $271.44 million, a P/E ratio of -7.31 and a beta of 0.10. Aclaris Therapeutics, Inc. has a 52-week low of $0.77 and a 52-week high of $5.17. The business’s 50-day moving average price is $1.77 and its 200 day moving average price is $1.39.

Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. The company had revenue of $4.35 million during the quarter, compared to analyst estimates of $8.31 million. As a group, analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in shares of Aclaris Therapeutics by 69.5% during the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 13,461 shares during the period. Russell Investments Group Ltd. increased its position in Aclaris Therapeutics by 5,265.1% during the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 61,602 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $119,000. Assenagon Asset Management S.A. acquired a new stake in shares of Aclaris Therapeutics in the 3rd quarter valued at approximately $214,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Aclaris Therapeutics by 10.9% in the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after buying an additional 23,747 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ACRS. Cantor Fitzgerald raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Leerink Partners raised Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their target price for the company from $2.00 to $7.00 in a research report on Tuesday. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $3.00 to $13.00 in a research report on Monday, November 18th. Finally, StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Aclaris Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $8.80.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.