Aclaris Therapeutics, Inc. $ACRS Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in Aclaris Therapeutics by 72.9%, selling almost 497,000 shares, leaving it with approximately 185,000 shares valued at $262,000.
• Several other hedge funds have increased their positions in Aclaris, with notable raises of over 2,200% by Bank of America and 223% by OMERS ADMINISTRATION Corp in recent quarters.
• Aclaris Therapeutics reported an earnings per share of ($0.13) for the last quarter, aligning with analysts' expectations, while also achieving a revenue of $1.78 million compared to the forecast of $1.34 million.

Assenagon Asset Management S.A. lowered its stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 72.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,585 shares of the biotechnology company's stock after selling 496,968 shares during the period. Assenagon Asset Management S.A. owned about 0.17% of Aclaris Therapeutics worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Acadian Asset Management LLC raised its position in Aclaris Therapeutics by 25.9% in the 1st quarter. Acadian Asset Management LLC now owns 2,195,191 shares of the biotechnology company's stock valued at $3,355,000 after purchasing an additional 451,044 shares in the last quarter. Bank of America Corp DE raised its position in Aclaris Therapeutics by 2,246.3% in the 4th quarter. Bank of America Corp DE now owns 205,465 shares of the biotechnology company's stock valued at $510,000 after purchasing an additional 196,708 shares in the last quarter. OMERS ADMINISTRATION Corp raised its position in Aclaris Therapeutics by 223.3% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 175,900 shares of the biotechnology company's stock valued at $269,000 after purchasing an additional 121,500 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Aclaris Therapeutics by 29.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company's stock valued at $851,000 after purchasing an additional 127,366 shares in the last quarter. Finally, Northern Trust Corp raised its position in Aclaris Therapeutics by 37.7% in the 4th quarter. Northern Trust Corp now owns 175,175 shares of the biotechnology company's stock valued at $434,000 after purchasing an additional 47,950 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.

Analyst Upgrades and Downgrades

ACRS has been the topic of a number of analyst reports. HC Wainwright reaffirmed a "buy" rating and issued a $16.00 price target on shares of Aclaris Therapeutics in a research report on Wednesday, June 25th. Piper Sandler began coverage on Aclaris Therapeutics in a report on Thursday, July 10th. They issued an "overweight" rating and a $6.00 price objective on the stock. Finally, Wedbush reiterated an "outperform" rating and issued a $8.00 price objective on shares of Aclaris Therapeutics in a report on Monday, June 23rd. 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, Aclaris Therapeutics presently has a consensus rating of "Buy" and an average price target of $8.71.

Aclaris Therapeutics Stock Performance

ACRS opened at $1.99 on Monday. The business's 50-day simple moving average is $1.80 and its 200-day simple moving average is $1.54. The company has a market cap of $215.58 million, a P/E ratio of -1.45 and a beta of 0.27. Aclaris Therapeutics, Inc. has a one year low of $1.05 and a one year high of $5.17.

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

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.

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