Aclaris Therapeutics (NASDAQ:ACRS) Shares Gap Up – What’s Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) shares gapped up before the market opened on Wednesday . The stock had previously closed at $5.29, but opened at $5.65. Aclaris Therapeutics shares last traded at $5.5320, with a volume of 337,251 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Oppenheimer initiated coverage on Aclaris Therapeutics in a research report on Thursday, April 16th. They set an “outperform” rating and a $10.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Aclaris Therapeutics in a report on Thursday, March 19th. Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, UBS Group set a $10.00 target price on Aclaris Therapeutics in a research note on Thursday, April 16th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Aclaris Therapeutics currently has an average rating of “Buy” and a consensus price target of $11.50.

Aclaris Therapeutics Stock Performance

The stock’s 50-day moving average price is $4.57 and its two-hundred day moving average price is $3.81. The stock has a market capitalization of $737.96 million, a PE ratio of -9.46 and a beta of 0.76.

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

Insider Buying and Selling at Aclaris Therapeutics

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of Aclaris Therapeutics stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the completion of the transaction, the insider directly owned 13,950,000 shares in the company, valued at approximately $63,193,500. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. R Squared Ltd bought a new position in Aclaris Therapeutics during the 4th quarter valued at approximately $37,000. Strs Ohio bought a new stake in Aclaris Therapeutics in the first quarter worth $60,000. CIBC Asset Management Inc purchased a new stake in shares of Aclaris Therapeutics in the fourth quarter worth $52,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Aclaris Therapeutics in the fourth quarter worth $53,000. Finally, ProShare Advisors LLC increased its holdings in shares of Aclaris Therapeutics by 45.4% during the fourth quarter. ProShare Advisors LLC now owns 21,553 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 6,734 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.