Millennium Management LLC Buys 63,358 Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Millennium Management LLC increased its stake in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 1.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,336,850 shares of the biotechnology company’s stock after acquiring an additional 63,358 shares during the quarter. Millennium Management LLC’s holdings in Aclaris Therapeutics were worth $3,671,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ACRS. SG Americas Securities LLC lifted its holdings in Aclaris Therapeutics by 69.5% during the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after buying an additional 13,461 shares in the last quarter. BNP Paribas Financial Markets increased its position in Aclaris Therapeutics by 10.9% in the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock worth $299,000 after purchasing an additional 23,747 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Aclaris Therapeutics in the first quarter worth about $39,000. Russell Investments Group Ltd. increased its position 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 worth $78,000 after purchasing an additional 61,602 shares during the period. Finally, Deuterium Capital Management LLC bought a new stake in Aclaris Therapeutics during the 1st quarter worth about $99,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Insider Transactions at Aclaris Therapeutics

In other Aclaris Therapeutics news, major shareholder Braden Michael Leonard acquired 130,317 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were acquired at an average price of $1.30 per share, with a total value of $169,412.10. Following the completion of the transaction, the insider now directly owns 13,578,286 shares in the company, valued at $17,651,771.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired 321,763 shares of company stock valued at $418,823 in the last ninety days. 6.40% of the stock is currently owned by corporate insiders.

Aclaris Therapeutics Price Performance

NASDAQ:ACRS opened at $1.18 on Monday. Aclaris Therapeutics, Inc. has a fifty-two week low of $0.59 and a fifty-two week high of $6.06. The business’s 50-day simple moving average is $1.18 and its 200-day simple moving average is $1.20. The stock has a market capitalization of $84.09 million, a PE ratio of -1.08 and a beta of 0.20.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.04. The company had revenue of $2.77 million during the quarter, compared to analysts’ expectations of $1.74 million. Aclaris Therapeutics had a negative return on equity of 53.18% and a negative net margin of 183.28%. On average, research analysts expect that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACRS has been the subject of several recent research reports. StockNews.com upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.00.

Aclaris Therapeutics Profile

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.