ADAR1 Capital Management LLC Sells 481,560 Shares of Aclaris Therapeutics, Inc. $ACRS

ADAR1 Capital Management LLC lowered its position in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 78.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,426 shares of the biotechnology company's stock after selling 481,560 shares during the quarter. ADAR1 Capital Management LLC owned 0.09% of Aclaris Therapeutics worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACRS. R Squared Ltd acquired a new position in shares of Aclaris Therapeutics during the 4th quarter worth about $37,000. Strs Ohio acquired a new stake in Aclaris Therapeutics in the 1st quarter valued at about $60,000. CIBC Asset Management Inc acquired a new stake in Aclaris Therapeutics in the 4th quarter valued at about $52,000. China Universal Asset Management Co. Ltd. bought a new position in Aclaris Therapeutics during the fourth quarter worth about $53,000. Finally, ProShare Advisors LLC grew its holdings in Aclaris Therapeutics by 45.4% during the fourth quarter. ProShare Advisors LLC now owns 21,553 shares of the biotechnology company's stock worth $65,000 after purchasing an additional 6,734 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ACRS has been the topic of several research analyst reports. Lifesci Capital initiated coverage on Aclaris Therapeutics in a research note on Tuesday, June 2nd. They issued an "outperform" rating and a $13.00 price objective on the stock. UBS Group set a $10.00 target price on Aclaris Therapeutics in a research note on Thursday, April 16th. Oppenheimer initiated coverage on Aclaris Therapeutics in a report on Thursday, April 16th. They set an "outperform" rating and a $10.00 target price on the stock. Wedbush increased their price target on Aclaris Therapeutics from $8.00 to $10.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $11.50.

Aclaris Therapeutics Stock Down 3.9%

ACRS stock opened at $5.12 on Thursday. The company has a market cap of $715.06 million, a PE ratio of -9.14 and a beta of 0.76. The business has a 50-day simple moving average of $4.96 and a 200 day simple moving average of $4.18. Aclaris Therapeutics, Inc. has a 52 week low of $1.46 and a 52 week high of $5.88.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%. The business had revenue of $2.00 million for the quarter, compared to analysts' expectations of $1.32 million. On average, analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current fiscal year.

Aclaris Therapeutics 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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