Monashee Investment Management LLC Invests $1.88 Million in Aclaris Therapeutics, Inc. $ACRS

Monashee Investment Management LLC purchased a new position in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 500,000 shares of the biotechnology company’s stock, valued at approximately $1,875,000. Monashee Investment Management LLC owned 0.36% of Aclaris Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Aclaris Therapeutics by 21.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,576 shares of the biotechnology company’s stock valued at $1,441,000 after buying an additional 134,784 shares during the period. New York State Common Retirement Fund purchased a new position in shares of Aclaris Therapeutics during the 2nd quarter valued at $91,000. Invesco Ltd. increased its stake in shares of Aclaris Therapeutics by 409.0% in the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock worth $87,000 after acquiring an additional 45,864 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in shares of Aclaris Therapeutics in the fourth quarter worth $67,000. Finally, CIBC Asset Management Inc acquired a new position in shares of Aclaris Therapeutics in the fourth quarter worth $52,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Aclaris Therapeutics Price Performance

Aclaris Therapeutics stock opened at $5.62 on Thursday. Aclaris Therapeutics, Inc. has a one year low of $1.46 and a one year high of $5.88. The company’s fifty day moving average price is $4.88 and its two-hundred day moving average price is $4.09. The company has a market capitalization of $784.89 million, a price-to-earnings ratio of -10.04 and a beta of 0.76.

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

Analysts Set New Price Targets

ACRS has been the topic of a number of recent research reports. Lifesci Capital initiated coverage on Aclaris Therapeutics in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 target price on the stock. Wedbush lifted their price target on Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Oppenheimer began coverage on Aclaris Therapeutics in a report on Thursday, April 16th. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Aclaris Therapeutics has a consensus rating of “Buy” and a consensus target price of $11.50.

Aclaris Therapeutics 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.