Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Director Anand Mehra Purchases 666,666 Shares

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

Aclaris Therapeutics Stock Down 14.2 %

Shares of Aclaris Therapeutics stock traded down $0.65 during trading on Wednesday, reaching $3.94. 5,530,243 shares of the company were exchanged, compared to its average volume of 1,399,274. The firm has a market capitalization of $281.43 million, a price-to-earnings ratio of -7.23 and a beta of 0.10. The business has a 50-day moving average price of $1.60 and a 200-day moving average price of $1.34. Aclaris Therapeutics, Inc. has a twelve month low of $0.77 and a twelve month high of $5.17.

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

Institutional Investors Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in shares of Aclaris Therapeutics by 69.5% in the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 13,461 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of 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 buying an additional 61,602 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Aclaris Therapeutics in the second quarter valued at about $119,000. Assenagon Asset Management S.A. purchased a new position in shares of Aclaris Therapeutics in the third quarter worth about $214,000. Finally, BNP Paribas Financial Markets grew its holdings in 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 purchasing an additional 23,747 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Jefferies Financial Group upgraded Aclaris Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $2.00 to $7.00 in a research note on Tuesday. Cantor Fitzgerald raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a report on Wednesday. Leerink Partners upgraded shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and raised their target price for the company from $2.00 to $7.00 in a research note on Tuesday. Finally, BTIG Research raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Aclaris Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus 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.