Aclaris Therapeutics, Inc. $ACRS Position Boosted by Profund Advisors LLC

Profund Advisors LLC grew its position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 462.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,421 shares of the biotechnology company’s stock after acquiring an additional 140,935 shares during the quarter. Profund Advisors LLC’s holdings in Aclaris Therapeutics were worth $902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Aclaris Therapeutics during the 2nd quarter valued at approximately $53,096,000. Rock Springs Capital Management LP increased its position in Aclaris Therapeutics by 0.4% in the first quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after purchasing an additional 18,909 shares during the last quarter. Braidwell LP increased its position in Aclaris Therapeutics by 26.1% in the second quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock worth $11,333,000 after purchasing an additional 443,232 shares during the last quarter. Palo Alto Investors LP bought a new stake in Aclaris Therapeutics in the second quarter worth $8,535,045. Finally, Kalehua Capital Management LLC purchased a new stake in Aclaris Therapeutics during the first quarter valued at $6,871,000. 98.34% of the stock is currently owned by institutional investors.

Aclaris Therapeutics Stock Performance

Shares of ACRS opened at $3.74 on Wednesday. The business has a fifty day moving average of $4.78 and a 200 day moving average of $4.53. Aclaris Therapeutics, Inc. has a 52-week low of $2.10 and a 52-week high of $6.60.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Thursday, August 6th. 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 921.50% and a negative return on equity of 61.65%. The business had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.38 million. As a group, equities research analysts forecast that Aclaris Therapeutics, Inc. will post -0.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on ACRS. Canaccord Genuity Group upped their price target on shares of Aclaris Therapeutics from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Wedbush reduced their target price on shares of Aclaris Therapeutics from $10.00 to $8.00 and set an “outperform” rating on the stock in a report on Wednesday, October 28th. Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Craig Hallum set a $9.00 target price on shares of Aclaris Therapeutics in a research report on Wednesday, October 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Aclaris Therapeutics in a report on Wednesday, October 28th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $11.33.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc (NASDAQ: ACRS) is a clinical-stage biopharmaceutical company focused on developing therapies for immune-inflammatory diseases. The company’s research programs are designed to address conditions in areas such as rheumatology, dermatology and other inflammatory disorders.

Aclaris’ lead investigational product is zunsemetinib (ATI-450), an oral small-molecule therapy being evaluated for inflammatory diseases. The company has also developed additional investigational programs, including selective kinase inhibitors intended for potential use in dermatologic and immune-mediated conditions.