Acadian Asset Management LLC Raises Holdings in Aclaris Therapeutics, Inc. $ACRS

Key Points

• Acadian Asset Management LLC increased its holdings in Aclaris Therapeutics by 25.9%, owning 2,195,191 shares worth approximately $3.36 million as of the end of the first quarter.
• Multiple large investors, including Millennium Management LLC and Goldman Sachs Group Inc., also boosted their stakes, indicating significant institutional interest in Aclaris Therapeutics.
• Aclaris Therapeutics' stock has a current average price target of $8.71 and a consensus rating of "Buy" from analysts, reflecting positive expectations for the company's future performance.

Acadian Asset Management LLC grew its position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 25.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,195,191 shares of the biotechnology company's stock after buying an additional 451,044 shares during the quarter. Acadian Asset Management LLC owned 2.03% of Aclaris Therapeutics worth $3,355,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in Aclaris Therapeutics by 29.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company's stock valued at $851,000 after buying an additional 127,366 shares in the last quarter. Millennium Management LLC boosted 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 buying an additional 2,175,101 shares during the last quarter. Palo Alto Investors LP boosted its stake in shares of Aclaris Therapeutics by 36.2% in the first quarter. Palo Alto Investors LP now owns 776,028 shares of the biotechnology company's stock worth $1,187,000 after buying an additional 206,196 shares during the last quarter. State of Wyoming purchased a new stake in shares of Aclaris Therapeutics in the first quarter worth about $72,000. Finally, OMERS ADMINISTRATION Corp boosted its position in Aclaris Therapeutics by 223.3% during the first quarter. OMERS ADMINISTRATION Corp now owns 175,900 shares of the biotechnology company's stock worth $269,000 after purchasing an additional 121,500 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ACRS. Piper Sandler began coverage on Aclaris Therapeutics in a research report on Thursday, July 10th. They set an "overweight" rating and a $6.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and issued a $8.00 price target on shares of Aclaris Therapeutics in a report on Monday, June 23rd. Finally, HC Wainwright reissued a "buy" rating and set a $16.00 target price on shares of Aclaris Therapeutics in a research note on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $8.71.

Aclaris Therapeutics Price Performance

Shares of NASDAQ ACRS opened at $1.95 on Monday. The business has a 50-day moving average of $1.73 and a two-hundred day moving average of $1.53. Aclaris Therapeutics, Inc. has a 1 year low of $1.05 and a 1 year high of $5.17. The company has a market capitalization of $211.24 million, a price-to-earnings ratio of -1.42 and a beta of 0.27.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last posted its earnings results on Thursday, August 7th. The biotechnology company reported ($0.13) EPS for the quarter, hitting analysts' consensus estimates of ($0.13). Aclaris Therapeutics had a negative return on equity of 34.01% and a negative net margin of 802.03%.The business had revenue of $1.78 million for the quarter, compared to analysts' expectations of $1.34 million. As a group, equities research analysts expect that Aclaris Therapeutics, Inc. will post -0.82 earnings per share for the current year.

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.

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