Monashee Investment Management LLC Takes Position in Aclaris Therapeutics, Inc. $ACRS

Monashee Investment Management LLC acquired a new position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 500,000 shares of the biotechnology company’s stock, valued at approximately $1,875,000.

Other large investors have also modified their holdings of the company. Millennium Management LLC grew its stake in Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after buying an additional 2,175,101 shares during the last quarter. Geode Capital Management LLC raised its holdings in Aclaris Therapeutics by 108.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after acquiring an additional 1,282,042 shares during the period. Kotler Kevin acquired a new position in Aclaris Therapeutics during the 4th quarter worth $5,135,000. Palo Alto Investors LP lifted its position in Aclaris Therapeutics by 12.7% during the 3rd quarter. Palo Alto Investors LP now owns 1,566,840 shares of the biotechnology company’s stock worth $2,977,000 after acquiring an additional 176,812 shares during the last quarter. Finally, State Street Corp lifted its position in Aclaris Therapeutics by 35.3% during the 4th quarter. State Street Corp now owns 1,506,403 shares of the biotechnology company’s stock worth $4,534,000 after acquiring an additional 393,257 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

Aclaris Therapeutics Price Performance

NASDAQ:ACRS opened at $5.62 on Thursday. The stock has a market cap of $784.89 million, a P/E ratio of -10.04 and a beta of 0.76. Aclaris Therapeutics, Inc. has a one year low of $1.46 and a one year high of $5.88. The company has a fifty day moving average price of $4.88 and a 200 day moving average price of $4.09.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $2.00 million during the quarter, compared to the consensus estimate of $1.32 million. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%. As a group, equities research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ACRS shares. Lifesci Capital initiated coverage on Aclaris Therapeutics in a research report on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price target on the stock. Guggenheim started coverage on Aclaris Therapeutics in a research report on Tuesday, May 5th. They set a “buy” rating and a $12.00 price objective for the company. Oppenheimer started coverage on Aclaris Therapeutics in a research report on Thursday, April 16th. They set an “outperform” rating and a $10.00 price objective for the company. Piper Sandler increased their target price on Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Wedbush raised their target price on Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Three 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. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $11.50.

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.