Kalehua Capital Management LLC Takes $6.87 Million Position in Aclaris Therapeutics, Inc. $ACRS

Kalehua Capital Management LLC purchased a new position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,832,365 shares of the biotechnology company’s stock, valued at approximately $6,871,000. Aclaris Therapeutics makes up 4.9% of Kalehua Capital Management LLC’s investment portfolio, making the stock its 7th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invesco Ltd. lifted its stake in Aclaris Therapeutics by 409.0% during the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock valued at $87,000 after buying an additional 45,864 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Aclaris Therapeutics by 111.0% during the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after acquiring an additional 2,175,101 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Aclaris Therapeutics by 29.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock valued at $851,000 after acquiring an additional 127,366 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 valued at $3,501,000 after acquiring an additional 1,282,042 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Aclaris Therapeutics by 25.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 623,792 shares of the biotechnology company’s stock worth $886,000 after purchasing an additional 125,071 shares during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Aclaris Therapeutics Price Performance

Shares of NASDAQ ACRS opened at $5.23 on Monday. Aclaris Therapeutics, Inc. has a one year low of $1.46 and a one year high of $5.88. The business’s 50-day moving average price is $4.91 and its two-hundred day moving average price is $4.13. The company has a market capitalization of $730.42 million, a P/E ratio of -9.34 and a beta of 0.76.

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

Analysts Set New Price Targets

ACRS has been the topic of several recent analyst reports. Wedbush boosted their target price on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Guggenheim initiated coverage on Aclaris Therapeutics in a research report on Tuesday, May 5th. They set a “buy” rating and a $12.00 price target on the stock. UBS Group set a $10.00 price objective on Aclaris Therapeutics in a research note on Thursday, April 16th. Piper Sandler lifted 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, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $11.50.

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.