Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Major Shareholder Braden Michael Leonard Buys 150,000 Shares

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) major shareholder Braden Michael Leonard acquired 150,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of $1.13 per share, with a total value of $169,500.00. Following the completion of the purchase, the insider now directly owns 11,502,134 shares in the company, valued at $12,997,411.42. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Braden Michael Leonard also recently made the following trade(s):

• On Thursday, June 13th, Braden Michael Leonard bought 528,621 shares of Aclaris Therapeutics stock. The stock was purchased at an average price of $1.15 per share, with a total value of $607,914.15.
• On Tuesday, June 11th, Braden Michael Leonard purchased 1,000,000 shares of Aclaris Therapeutics stock. The stock was purchased at an average price of $1.08 per share, for a total transaction of $1,080,000.00.

Aclaris Therapeutics Price Performance

ACRS opened at $1.13 on Wednesday. The company has a market cap of $80.52 million, a P/E ratio of -1.04 and a beta of 0.06. The firm’s 50-day moving average price is $1.17 and its 200-day moving average price is $1.16. Aclaris Therapeutics, Inc. has a 52-week low of $0.59 and a 52-week high of $11.12.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. The business had revenue of $2.40 million for the quarter, compared to analyst estimates of $1.99 million. Aclaris Therapeutics had a negative net margin of 248.28% and a negative return on equity of 61.03%. On average, research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of “Hold” and an average target price of $22.25.

Hedge Funds Weigh In On Aclaris Therapeutics

Hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. raised its position in Aclaris Therapeutics by 128.8% during the 4th quarter. Vontobel Holding Ltd. now owns 30,268 shares of the biotechnology company’s stock worth $32,000 after buying an additional 17,040 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Aclaris Therapeutics in the first quarter worth $39,000. SG Americas Securities LLC raised its holdings in shares of Aclaris Therapeutics by 69.5% during the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 13,461 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Aclaris Therapeutics by 115.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,784 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 23,467 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in Aclaris Therapeutics by 5,265.1% in the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 61,602 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

About Aclaris Therapeutics

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.