Two Sigma Advisers LP Lowers Stock Holdings in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Two Sigma Advisers LP reduced its stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 24.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 977,400 shares of the biotechnology company's stock after selling 324,100 shares during the quarter. Two Sigma Advisers LP owned 1.37% of Aclaris Therapeutics worth $2,424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACRS. ExodusPoint Capital Management LP purchased a new position in shares of Aclaris Therapeutics in the 4th quarter worth about $26,000. Invesco Ltd. purchased a new position in shares of Aclaris Therapeutics in the 4th quarter worth about $28,000. Graham Capital Management L.P. purchased a new position in shares of Aclaris Therapeutics in the 4th quarter worth about $35,000. Commonwealth Equity Services LLC purchased a new position in shares of Aclaris Therapeutics in the 4th quarter worth about $36,000. Finally, Alpine Global Management LLC purchased a new position in shares of Aclaris Therapeutics in the 4th quarter worth about $38,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Scotiabank cut their price target on shares of Aclaris Therapeutics from $15.00 to $9.00 and set a "sector outperform" rating on the stock in a report on Friday, May 9th. Wall Street Zen downgraded shares of Aclaris Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, February 8th. Cantor Fitzgerald initiated coverage on shares of Aclaris Therapeutics in a report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Wedbush initiated coverage on shares of Aclaris Therapeutics in a report on Wednesday, May 28th. They set an "outperform" rating and a $8.00 price objective on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and set a $16.00 price objective (down from $20.00) on shares of Aclaris Therapeutics in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.71.

Aclaris Therapeutics Stock Performance

NASDAQ ACRS traded down $0.02 during trading on Monday, hitting $1.44. 645,432 shares of the company's stock traded hands, compared to its average volume of 1,190,769. Aclaris Therapeutics, Inc. has a 12-month low of $0.99 and a 12-month high of $5.17. The stock has a market capitalization of $155.92 million, a price-to-earnings ratio of -2.77 and a beta of 0.42. The business has a 50 day moving average of $1.30 and a 200-day moving average of $2.16.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.07. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. On average, analysts expect that Aclaris Therapeutics, Inc. will post -0.82 EPS for the current 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.