OMERS ADMINISTRATION Corp Grows Stake in Aclaris Therapeutics, Inc. $ACRS

Key Points

• OMERS ADMINISTRATION Corp significantly increased its position in Aclaris Therapeutics by 223.3%, acquiring an additional 121,500 shares and bringing its total holdings to 175,900 shares worth approximately $269,000.
• Aclaris Therapeutics reported a revenue of $1.78 million in its latest earnings, surpassing analysts' expectations of $1.34 million, though it still posted an EPS of (0.13).
• Institutional investors now own 98.34% of Aclaris Therapeutics' stock, indicating strong institutional interest in the company.

OMERS ADMINISTRATION Corp lifted its holdings in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 223.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,900 shares of the biotechnology company's stock after acquiring an additional 121,500 shares during the period. OMERS ADMINISTRATION Corp owned approximately 0.16% of Aclaris Therapeutics worth $269,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACRS. Graham Capital Management L.P. bought a new stake in shares of Aclaris Therapeutics during the fourth quarter worth about $35,000. Alpine Global Management LLC bought a new stake in shares of Aclaris Therapeutics during the fourth quarter worth about $38,000. Cannon Global Investment Management LLC bought a new stake in shares of Aclaris Therapeutics during the first quarter worth about $57,000. Algert Global LLC bought a new stake in shares of Aclaris Therapeutics during the first quarter worth about $61,000. Finally, Velan Capital Investment Management LP bought a new stake in Aclaris Therapeutics in the 4th quarter worth about $67,000. 98.34% of the stock is owned by institutional investors.

Aclaris Therapeutics Stock Performance

ACRS traded down $0.09 during midday trading on Wednesday, reaching $2.04. The company had a trading volume of 1,494,165 shares, compared to its average volume of 704,646. The stock has a market cap of $220.99 million, a PE ratio of -1.49 and a beta of 0.27. Aclaris Therapeutics, Inc. has a 12-month low of $1.05 and a 12-month high of $5.17. The business has a 50-day moving average price of $1.71 and a two-hundred day moving average price of $1.54.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on ACRS shares. Wedbush reaffirmed an "outperform" rating and issued a $8.00 price objective on shares of Aclaris Therapeutics in a research report on Monday, June 23rd. HC Wainwright reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Aclaris Therapeutics in a research report on Wednesday, June 25th. Finally, Piper Sandler started coverage on shares of Aclaris Therapeutics in a research report on Thursday, July 10th. They issued an "overweight" rating and a $6.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat.com, Aclaris Therapeutics presently has an average rating of "Buy" and a consensus price target of $8.71.

About Aclaris Therapeutics

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.