Vivo Capital LLC Sells 2,222,222 Shares of Aclaris Therapeutics, Inc. $ACRS

Key Points

• Vivo Capital reduced its Aclaris Therapeutics stake by 25%, selling 2.22 million shares in the first quarter and retaining 6.67 million shares worth approximately $25 million, or 4.77% of the company.
• Institutional investors own 98.34% of ACRS, while analysts maintain a generally positive outlook: the stock has a consensus “Buy” rating and an average price target of $11.50.
• Aclaris shares opened at $5.32, near their 12-month high, after the company reported quarterly revenue of $2 million and an adjusted loss of $0.15 per share, slightly exceeding analyst expectations.

Vivo Capital LLC decreased its stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 25.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,666,666 shares of the biotechnology company's stock after selling 2,222,222 shares during the quarter. Aclaris Therapeutics accounts for about 2.1% of Vivo Capital LLC's portfolio, making the stock its 16th largest position. Vivo Capital LLC owned approximately 4.77% of Aclaris Therapeutics worth $25,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Aclaris Therapeutics by 1.7% during the 1st quarter. Bank of New York Mellon Corp now owns 207,024 shares of the biotechnology company's stock worth $776,000 after acquiring an additional 3,507 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Aclaris Therapeutics by 2.2% during the third quarter. Raymond James Financial Inc. now owns 283,476 shares of the biotechnology company's stock valued at $539,000 after purchasing an additional 6,217 shares during the period. Rhumbline Advisers increased its stake in Aclaris Therapeutics by 7.4% in the third quarter. Rhumbline Advisers now owns 91,236 shares of the biotechnology company's stock valued at $173,000 after purchasing an additional 6,271 shares in the last quarter. ProShare Advisors LLC raised its holdings in Aclaris Therapeutics by 45.4% in the fourth quarter. ProShare Advisors LLC now owns 21,553 shares of the biotechnology company's stock worth $65,000 after purchasing an additional 6,734 shares during the period. Finally, Intech Investment Management LLC raised its holdings in Aclaris Therapeutics by 19.8% in the fourth quarter. Intech Investment Management LLC now owns 46,646 shares of the biotechnology company's stock worth $140,000 after purchasing an additional 7,702 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACRS has been the subject of several research analyst reports. Oppenheimer began coverage on shares of Aclaris Therapeutics in a report on Thursday, April 16th. They issued an "outperform" rating and a $10.00 price target for the company. Piper Sandler raised their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 5th. Wedbush lifted their target price on Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. UBS Group set a $10.00 target price on Aclaris Therapeutics in a research note on Thursday, April 16th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $11.50.

Aclaris Therapeutics Stock Performance

Shares of ACRS opened at $5.32 on Friday. The firm has a market cap of $742.99 million, a P/E ratio of -9.50 and a beta of 0.76. Aclaris Therapeutics, Inc. has a twelve month low of $1.46 and a twelve month high of $5.88. The firm's 50 day moving average price is $4.97 and its two-hundred day moving average price is $4.20.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%. The company had revenue of $2.00 million during the quarter, compared to the consensus estimate of $1.32 million. On average, sell-side analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Aclaris Therapeutics Company 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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