Bank of America Corp DE Acquires 196,708 Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Bank of America Corp DE boosted its holdings in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 2,246.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 205,465 shares of the biotechnology company's stock after purchasing an additional 196,708 shares during the quarter. Bank of America Corp DE owned approximately 0.29% of Aclaris Therapeutics worth $510,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ACRS. ExodusPoint Capital Management LP purchased a new position in shares of Aclaris Therapeutics in the 4th quarter worth $26,000. Invesco Ltd. bought a new position in shares of Aclaris Therapeutics in the 4th quarter valued at about $28,000. Commonwealth Equity Services LLC purchased a new position in Aclaris Therapeutics in the fourth quarter worth about $36,000. Alpine Global Management LLC bought a new stake in Aclaris Therapeutics during the fourth quarter worth approximately $38,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Aclaris Therapeutics during the fourth quarter valued at approximately $82,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Aclaris Therapeutics Stock Down 0.6%

ACRS stock traded down $0.01 during trading on Thursday, hitting $1.56. The company had a trading volume of 135,458 shares, compared to its average volume of 1,195,344. Aclaris Therapeutics, Inc. has a 52-week low of $1.05 and a 52-week high of $5.17. The company has a 50 day simple moving average of $1.30 and a 200-day simple moving average of $2.06. The firm has a market capitalization of $168.92 million, a P/E ratio of -3.00 and a beta of 0.41.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) 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%. Sell-side analysts forecast that Aclaris Therapeutics, Inc. will post -0.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACRS has been the subject of a number of recent research reports. Scotiabank dropped their target price on Aclaris Therapeutics from $15.00 to $9.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. Wedbush initiated coverage on Aclaris Therapeutics in a research report on Wednesday, May 28th. They issued an "outperform" rating and a $8.00 price target for the company. Cantor Fitzgerald assumed coverage on shares of Aclaris Therapeutics in a research note on Tuesday, March 18th. They set an "overweight" rating for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $16.00 price objective (down from $20.00) on shares of Aclaris Therapeutics in a research report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.71.

Aclaris Therapeutics 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.