BlackRock Inc. Makes New $53.10 Million Investment in Aclaris Therapeutics, Inc. $ACRS

Key Points

• BlackRock acquired 10.04 million shares of Aclaris Therapeutics in the second quarter, valued at approximately $53.1 million, giving it a 7.19% stake. Institutional investors and hedge funds collectively own 98.34% of the company.
• Aclaris reported a quarterly loss of $0.15 per share, slightly better than analyst expectations, while revenue of $1.63 million exceeded estimates. The company remains unprofitable, with a negative net margin of 921.50%.
• Analyst sentiment is generally positive, with an average “Buy” rating and a consensus price target of $11.50 versus the stock’s reported price of $6.05; recent targets range from $11 to $13.

BlackRock Inc. bought a new stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,037,008 shares of the biotechnology company's stock, valued at approximately $53,096,000. BlackRock Inc. owned 7.19% of Aclaris Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Deutsche Bank AG acquired a new stake in Aclaris Therapeutics in the 2nd quarter worth about $5,507,000. Bank of New York Mellon Corp acquired a new position in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $1,495,000. State of Wyoming acquired a new position in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $145,000. Walleye Capital LLC bought a new position in shares of Aclaris Therapeutics during the second quarter worth approximately $104,000. Finally, Bank of America Corp DE increased its holdings in shares of Aclaris Therapeutics by 23.3% during the first quarter. Bank of America Corp DE now owns 79,539 shares of the biotechnology company's stock worth $298,000 after purchasing an additional 15,018 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Aclaris Therapeutics Stock Up 0.7%

NASDAQ ACRS opened at $6.05 on Tuesday. Aclaris Therapeutics, Inc. has a twelve month low of $1.74 and a twelve month high of $6.60. The company has a market capitalization of $845.91 million, a price-to-earnings ratio of -10.43 and a beta of 0.78. The stock has a fifty day simple moving average of $5.67 and a 200 day simple moving average of $4.60.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ACRS. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Lifesci Capital assumed coverage on shares of Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an "outperform" rating and a $13.00 price target for the company. Guggenheim started coverage on shares of Aclaris Therapeutics in a research report on Tuesday, May 5th. They set a "buy" rating and a $12.00 price target on the stock. Finally, Piper Sandler lifted their price objective on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Aclaris Therapeutics has an average rating of "Buy" and a consensus price target of $11.50.

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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