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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Director Anand Mehra bought 666,666 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was bought 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 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 document filed with the SEC, which is available through this link.

Aclaris Therapeutics Price Performance

Shares of NASDAQ ACRS opened at $3.80 on Friday. The company has a 50-day simple moving average of $1.77 and a 200-day simple moving average of $1.39. The company has a market cap of $271.44 million, a PE ratio of -7.31 and a beta of 0.10. Aclaris Therapeutics, Inc. has a 12 month low of $0.77 and a 12 month high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS 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 firm had revenue of $4.35 million during the quarter, compared to analysts’ expectations of $8.31 million. On average, analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Hedge Funds Weigh In On Aclaris Therapeutics

Large investors have recently added to or reduced their stakes in the business. BML Capital Management LLC grew its holdings in Aclaris Therapeutics by 9.7% in the 3rd quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock valued at $16,388,000 after buying an additional 1,261,866 shares during the period. Vanguard Group Inc. grew its holdings in Aclaris Therapeutics by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock valued at $6,113,000 after purchasing an additional 207,418 shares during the period. Millennium Management LLC increased its position in Aclaris Therapeutics by 1.9% during the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock worth $3,671,000 after purchasing an additional 63,358 shares during the last quarter. Stonepine Capital Management LLC raised its stake in Aclaris Therapeutics by 27.6% during the third quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock worth $2,828,000 after purchasing an additional 531,427 shares during the period. Finally, Trium Capital LLP boosted its holdings in shares of Aclaris Therapeutics by 1.1% in the 3rd quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock valued at $2,200,000 after purchasing an additional 20,940 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ACRS shares. Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the company from $2.00 to $7.00 in a research note on Tuesday. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Tuesday. StockNews.com raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Leerink Partnrs upgraded shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Cantor Fitzgerald upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.80.

Aclaris Therapeutics Company Profile

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.