Velan Capital Investment Management LP Purchases New Holdings in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Velan Capital Investment Management LP purchased a new stake in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,000 shares of the biotechnology company’s stock, valued at approximately $67,000.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on Aclaris Therapeutics in a research note on Tuesday, March 18th. They issued an “overweight” rating on the stock. HC Wainwright restated a “buy” rating and issued a $16.00 price objective (down previously from $20.00) on shares of Aclaris Therapeutics in a research note on Wednesday, May 14th. StockNews.com lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 8th. Finally, Scotiabank dropped their price objective on Aclaris Therapeutics from $15.00 to $9.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Aclaris Therapeutics Trading Down 0.8%

Shares of NASDAQ ACRS opened at $1.30 on Tuesday. The firm has a market cap of $140.77 million, a P/E ratio of -2.50 and a beta of 0.42. Aclaris Therapeutics, Inc. has a 1-year low of $0.95 and a 1-year high of $5.17. The business’s 50 day moving average is $1.35 and its 200-day moving average is $2.23.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. Analysts forecast that Aclaris Therapeutics, Inc. will post -0.82 EPS for the current year.

Aclaris Therapeutics 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.