JPMorgan Chase & Co. Buys 134,784 Shares of Aclaris Therapeutics, Inc. $ACRS

JPMorgan Chase & Co. grew its stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 21.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 758,576 shares of the biotechnology company’s stock after purchasing an additional 134,784 shares during the period. JPMorgan Chase & Co. owned approximately 0.70% of Aclaris Therapeutics worth $1,441,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Millennium Management LLC lifted its stake in shares of Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after purchasing an additional 2,175,101 shares during the last quarter. Geode Capital Management LLC grew its stake in Aclaris Therapeutics by 108.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after buying an additional 1,282,042 shares during the last quarter. Palo Alto Investors LP grew its stake in Aclaris Therapeutics by 12.7% during the 3rd quarter. Palo Alto Investors LP now owns 1,566,840 shares of the biotechnology company’s stock worth $2,977,000 after buying an additional 176,812 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Aclaris Therapeutics by 25.3% in the third quarter. Citadel Advisors LLC now owns 1,432,677 shares of the biotechnology company’s stock worth $2,722,000 after buying an additional 288,871 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Aclaris Therapeutics in the third quarter worth about $2,428,000. 98.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ACRS has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th. Wall Street Zen upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Craig Hallum assumed coverage on Aclaris Therapeutics in a report on Friday, January 30th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $8.00 price target on shares of Aclaris Therapeutics in a report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $9.80.

Aclaris Therapeutics Trading Up 5.3%

NASDAQ ACRS opened at $3.95 on Thursday. The stock has a market capitalization of $476.37 million, a price-to-earnings ratio of -7.45 and a beta of 0.67. Aclaris Therapeutics, Inc. has a twelve month low of $1.05 and a twelve month high of $4.89. The stock has a 50-day moving average of $3.49 and a 200 day moving average of $2.93.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.07 million. Aclaris Therapeutics had a negative return on equity of 52.04% and a negative net margin of 829.58%. Equities analysts predict that Aclaris Therapeutics, Inc. will post -0.82 EPS for the current fiscal year.

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.