Aclaris Therapeutics (NASDAQ:ACRS) Shares Gap Down to $0.90

Shares of Aclaris Therapeutics Inc (NASDAQ:ACRS) gapped down before the market opened on Monday . The stock had previously closed at $0.85, but opened at $0.90. Aclaris Therapeutics shares last traded at $0.86, with a volume of 48,244 shares traded.

Several equities analysts have recently commented on the stock. ValuEngine raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $5.00 price target (down previously from $24.00) on shares of Aclaris Therapeutics in a research report on Friday. Svb Leerink cut shares of Aclaris Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 27th. Leerink Swann cut shares of Aclaris Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 27th. Finally, Zacks Investment Research raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, July 8th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $14.94.

The company has a current ratio of 4.33, a quick ratio of 4.30 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average price of $1.98. The firm has a market capitalization of $40.86 million, a PE ratio of -0.21 and a beta of 0.74.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, August 8th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.77) by $0.05. Aclaris Therapeutics had a negative net margin of 979.65% and a negative return on equity of 76.46%. The firm had revenue of $5.87 million for the quarter, compared to analysts’ expectations of $5.77 million. On average, research analysts predict that Aclaris Therapeutics Inc will post -2.87 earnings per share for the current fiscal year.

In other Aclaris Therapeutics news, major shareholder James E. Flynn sold 454,261 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $4.59, for a total value of $2,085,057.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder James E. Flynn sold 699,475 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $2.69, for a total transaction of $1,881,587.75. The disclosure for this sale can be found here. Insiders sold 1,493,273 shares of company stock worth $5,535,307 in the last three months. 14.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ACRS. Renaissance Technologies LLC lifted its holdings in Aclaris Therapeutics by 63.7% in the second quarter. Renaissance Technologies LLC now owns 699,580 shares of the biotechnology company’s stock worth $1,532,000 after acquiring an additional 272,200 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Aclaris Therapeutics by 105.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 489,516 shares of the biotechnology company’s stock valued at $3,618,000 after buying an additional 250,963 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Aclaris Therapeutics by 66.1% during the second quarter. JPMorgan Chase & Co. now owns 408,262 shares of the biotechnology company’s stock valued at $870,000 after buying an additional 162,458 shares during the last quarter. Rice Hall James & Associates LLC raised its holdings in shares of Aclaris Therapeutics by 29.2% during the first quarter. Rice Hall James & Associates LLC now owns 699,307 shares of the biotechnology company’s stock valued at $4,189,000 after buying an additional 158,056 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Aclaris Therapeutics by 38.4% during the fourth quarter. Geode Capital Management LLC now owns 380,007 shares of the biotechnology company’s stock valued at $2,808,000 after buying an additional 105,361 shares during the last quarter. 91.34% of the stock is currently owned by hedge funds and other institutional investors.

About Aclaris Therapeutics (NASDAQ:ACRS)

Aclaris Therapeutics, Inc, a biopharmaceutical company, focuses on identifying, developing, and commercializing various therapies for dermatological and immuno-inflammatory diseases in the United States. It operates in two segments, Dermatology Therapeutics and Contract Research. The company offers ESKATA, a formulation of high-concentration hydrogen peroxide topical solution for raised seborrheic keratosis, a common non-malignant skin tumor; and RHOFADE, an oxymetazoline hydrochloride cream.

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