Decheng Capital LLC Boosts Stock Position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Key Points

• Decheng Capital LLC increased its holdings in Aclaris Therapeutics, Inc. by 78.3%, acquiring an additional 1,775,069 shares to own a total of 4,041,736 shares.
• Aclaris Therapeutics reported a quarterly EPS of ($0.12), surpassing analyst expectations of ($0.19) and is projected to post a -0.82 EPS for the current year.
• Hedge funds and institutional investors own 98.34% of Aclaris Therapeutics, indicating strong institutional interest in the stock.

Decheng Capital LLC lifted its stake in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 78.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,041,736 shares of the biotechnology company's stock after buying an additional 1,775,069 shares during the quarter. Aclaris Therapeutics makes up approximately 1.7% of Decheng Capital LLC's portfolio, making the stock its 13th biggest position. Decheng Capital LLC owned 3.73% of Aclaris Therapeutics worth $6,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. ExodusPoint Capital Management LP acquired a new position in Aclaris Therapeutics in the fourth quarter valued at approximately $26,000. Invesco Ltd. acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $28,000. Graham Capital Management L.P. acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $35,000. Commonwealth Equity Services LLC acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $36,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $38,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Aclaris Therapeutics Stock Performance

Shares of ACRS stock remained flat at $1.53 during mid-day trading on Friday. The stock had a trading volume of 1,094,014 shares, compared to its average volume of 1,329,236. Aclaris Therapeutics, Inc. has a twelve month low of $1.05 and a twelve month high of $5.17. The firm has a market capitalization of $165.67 million, a P/E ratio of -1.10 and a beta of 0.30. The firm's 50-day moving average is $1.51 and its 200-day moving average is $1.66.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.07. Aclaris Therapeutics had a negative return on equity of 30.73% and a negative net margin of 732.42%. On average, equities analysts forecast that Aclaris Therapeutics, Inc. will post -0.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wedbush reissued an "outperform" rating and issued a $8.00 price objective on shares of Aclaris Therapeutics in a report on Monday, June 23rd. Scotiabank decreased their price objective 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. Piper Sandler assumed coverage on Aclaris Therapeutics in a report on Thursday, July 10th. They issued an "overweight" rating and a $6.00 price objective for the company. Finally, HC Wainwright reissued a "buy" rating and issued a $16.00 price objective on shares of Aclaris Therapeutics in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $8.71.

Aclaris Therapeutics Company 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.