Bank of New York Mellon Corp Makes New $1.50 Million Investment in Aclaris Therapeutics, Inc. $ACRS

Bank of New York Mellon Corp acquired a new position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 282,599 shares of the biotechnology company's stock, valued at approximately $1,495,000. Bank of New York Mellon Corp owned about 0.20% of Aclaris Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. XTX Topco Ltd acquired a new position in Aclaris Therapeutics in the second quarter worth approximately $34,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Aclaris Therapeutics during the second quarter valued at $48,000. BNP Paribas Financial Markets lifted its holdings in shares of Aclaris Therapeutics by 59.0% during the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company's stock valued at $51,000 after purchasing an additional 9,894 shares during the last quarter. CIBC Asset Management Inc acquired a new position in shares of Aclaris Therapeutics in the 4th quarter valued at $52,000. Finally, Strs Ohio acquired a new position in shares of Aclaris Therapeutics in the 1st quarter valued at $60,000. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ACRS has been the topic of several recent analyst reports. Wall Street Zen upgraded Aclaris Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Canaccord Genuity Group initiated coverage on shares of Aclaris Therapeutics in a research report on Tuesday, September 1st. They issued a "buy" rating and a $10.00 target price on the stock. Finally, Lifesci Capital started coverage on shares of Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an "outperform" rating and a $13.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Aclaris Therapeutics presently has an average rating of "Buy" and an average target price of $11.33.

Aclaris Therapeutics Stock Performance

Shares of ACRS opened at $5.56 on Thursday. The company's 50 day moving average price is $5.81 and its 200 day moving average price is $4.73. Aclaris Therapeutics, Inc. has a 52 week low of $1.74 and a 52 week high of $6.60. The company has a market capitalization of $777.40 million, a PE ratio of -9.59 and a beta of 0.79.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. The company had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.38 million. On average, equities analysts forecast that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

About Aclaris Therapeutics

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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