Renaissance Technologies LLC Sells 622,700 Shares of Aclaris Therapeutics, Inc. $ACRS

Renaissance Technologies LLC lessened its stake in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 55.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 502,631 shares of the biotechnology company’s stock after selling 622,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Aclaris Therapeutics were worth $1,885,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. XTX Topco Ltd bought a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth about $34,000. R Squared Ltd bought a new position in Aclaris Therapeutics in the 4th quarter valued at about $37,000. The Manufacturers Life Insurance Company bought a new position in Aclaris Therapeutics in the 2nd quarter valued at about $48,000. BNP Paribas Financial Markets lifted its position in Aclaris Therapeutics by 59.0% during the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock worth $51,000 after acquiring an additional 9,894 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in Aclaris Therapeutics during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Oppenheimer initiated coverage on Aclaris Therapeutics in a research report on Thursday, April 16th. They issued an “outperform” rating and a $10.00 target price on the stock. Lifesci Capital began coverage on Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Guggenheim assumed coverage on Aclaris Therapeutics in a report on Tuesday, May 5th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Piper Sandler increased their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $11.50.

Aclaris Therapeutics Stock Up 0.3%

ACRS stock opened at $5.92 on Wednesday. Aclaris Therapeutics, Inc. has a 52 week low of $1.58 and a 52 week high of $6.51. The business has a 50-day simple moving average of $5.19 and a 200 day simple moving average of $4.36. The company has a market cap of $827.73 million, a PE ratio of -10.21 and a beta of 0.78.

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 analysts’ consensus estimates 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 firm had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.38 million. On average, analysts anticipate that Aclaris Therapeutics, Inc. will post -0.63 EPS for the current fiscal year.

About Aclaris Therapeutics

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.