Aclaris Therapeutics (NASDAQ:ACRS) Major Shareholder Braden Michael Leonard Sells 300,000 Shares

Key Points

• Major shareholder Braden Michael Leonard sold 300,000 shares at an average price of $4.53 for a total of $1,359,000, leaving him with 13,950,000 shares (a 2.11% reduction).
• ACRS stock traded up about 2.6% to $4.41 with a market cap of ~$615.9M, a negative P/E of -8.32, and a 12‑month range of $1.16 to $4.89.
• Analysts are generally bullish with multiple buy/outperform ratings and a MarketBeat consensus target of $9.86; institutional investors now own about 98.34% of the company.

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) major shareholder Braden Michael Leonard sold 300,000 shares of the firm's 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 sale, the insider directly owned 13,950,000 shares of the company's stock, valued at approximately $63,193,500. This represents a 2.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Aclaris Therapeutics Stock Up 2.6%

ACRS stock traded up $0.11 during trading on Monday, hitting $4.41. The company had a trading volume of 802,396 shares, compared to its average volume of 2,168,266. The firm has a 50-day moving average price of $3.67 and a 200-day moving average price of $3.15. Aclaris Therapeutics, Inc. has a 12 month low of $1.16 and a 12 month high of $4.89. The stock has a market cap of $615.90 million, a price-to-earnings ratio of -8.32 and a beta of 0.67.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). The firm had revenue of $1.30 million during the quarter, compared to the consensus estimate of $2.07 million. Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. Equities analysts expect that Aclaris Therapeutics, Inc. will post -0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. HC Wainwright restated a "buy" rating and set a $16.00 target price on shares of Aclaris Therapeutics in a research report on Thursday, March 19th. UBS Group set a $10.00 price target on shares of Aclaris Therapeutics in a research report on Thursday, April 16th. Oppenheimer began coverage on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. They set an "outperform" rating and a $10.00 price target for the company. Craig Hallum started coverage on shares of Aclaris Therapeutics in a report on Friday, January 30th. They issued a "buy" rating and a $10.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aclaris Therapeutics in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $9.86.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AXQ Capital LP bought a new stake in shares of Aclaris Therapeutics in the 3rd quarter valued at about $27,000. XTX Topco Ltd bought a new position in Aclaris Therapeutics during the 2nd quarter worth approximately $34,000. R Squared Ltd acquired a new position in Aclaris Therapeutics during the fourth quarter valued at approximately $37,000. The Manufacturers Life Insurance Company bought a new stake in Aclaris Therapeutics in the second quarter valued at approximately $48,000. Finally, BNP Paribas Financial Markets increased its stake in Aclaris Therapeutics by 59.0% in the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company's stock valued at $51,000 after purchasing an additional 9,894 shares in the last quarter. 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.

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