Palo Alto Investors LP Acquires Shares of 1,613,430 Aclaris Therapeutics, Inc. $ACRS

Palo Alto Investors LP purchased a new stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) in the 2nd quarter, HoldingsChannel reports. The fund purchased 1,613,430 shares of the biotechnology company’s stock, valued at approximately $8,535,045,000. Aclaris Therapeutics accounts for 1.2% of Palo Alto Investors LP’s portfolio, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Invesco Ltd. boosted its stake in Aclaris Therapeutics by 409.0% during the 1st quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 45,864 shares during the last quarter. Millennium Management LLC raised its stake in shares of Aclaris Therapeutics by 111.0% in the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock worth $6,325,000 after purchasing an additional 2,175,101 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Aclaris Therapeutics by 29.7% in the first quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock valued at $851,000 after purchasing an additional 127,366 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Aclaris Therapeutics by 108.4% in the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after purchasing an additional 1,282,042 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Aclaris Therapeutics by 25.1% during the second quarter. JPMorgan Chase & Co. now owns 623,792 shares of the biotechnology company’s stock valued at $886,000 after buying an additional 125,071 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Stock Down 0.5%

ACRS stock opened at $6.16 on Friday. The firm has a market capitalization of $861.29 million, a PE ratio of -10.62 and a beta of 0.78. Aclaris Therapeutics, Inc. has a twelve month low of $1.74 and a twelve month high of $6.60. The stock has a 50-day simple moving average of $5.62 and a two-hundred day simple moving average of $4.57.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. The firm had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.38 million. On average, equities research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Lifesci Capital assumed coverage on shares of Aclaris Therapeutics in a research report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. Guggenheim initiated coverage on shares of Aclaris Therapeutics in a report on Tuesday, May 5th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Piper Sandler upped their price objective 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. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Aclaris Therapeutics presently has a consensus rating of “Buy” and an average price target of $11.50.

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.