Renaissance Technologies LLC Has $1.89 Million Stake in Aclaris Therapeutics, Inc. $ACRS

Key Points

• Renaissance Technologies cut its Aclaris Therapeutics stake by 55.3% in the first quarter, selling 622,700 shares and retaining 502,631 shares valued at approximately $1.89 million.
• Analysts maintain a generally positive outlook, with Aclaris receiving a consensus “Buy” rating and an average price target of $11.50; several firms recently raised their targets.
• Aclaris shares opened at $5.92, while the company reported quarterly revenue of $1.63 million and an adjusted loss of $0.15 per share, slightly outperforming analyst expectations.

Renaissance Technologies LLC lowered its holdings in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 55.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,631 shares of the biotechnology company's stock after selling 622,700 shares during the period. Renaissance Technologies LLC owned about 0.36% of Aclaris Therapeutics worth $1,885,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Aclaris Therapeutics during the 4th quarter worth about $37,000. Strs Ohio bought a new position in shares of Aclaris Therapeutics in the 1st quarter valued at about $60,000. CIBC Asset Management Inc acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at about $52,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at about $53,000. Finally, ProShare Advisors LLC raised 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 acquiring an additional 6,734 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen raised Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Piper Sandler boosted their price target on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 5th. Wedbush upped their price objective on Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. Lifesci Capital started coverage on Aclaris Therapeutics in a report on Tuesday, June 2nd. They issued an "outperform" rating and a $13.00 price objective for the company. Finally, Oppenheimer initiated coverage on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. They issued an "outperform" rating and a $10.00 target price for the company. Three 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, Aclaris Therapeutics currently has an average rating of "Buy" and a consensus target price of $11.50.

Aclaris Therapeutics Stock Up 0.3%

Shares of NASDAQ ACRS opened at $5.92 on Wednesday. The business's 50 day moving average price is $5.19 and its two-hundred day moving average price is $4.36. The company has a market cap of $827.73 million, a PE ratio of -10.21 and a beta of 0.78. Aclaris Therapeutics, Inc. has a twelve month low of $1.58 and a twelve month high of $6.51.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. 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 return on equity of 61.65% and a negative net margin of 921.50%.The company had revenue of $1.63 million during the quarter, compared to analysts' expectations of $1.38 million. As a group, research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.63 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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