Jacobs Levy Equity Management Inc. Takes Position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Jacobs Levy Equity Management Inc. purchased a new position in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 915,509 shares of the biotechnology company's stock, valued at approximately $1,053,000. Jacobs Levy Equity Management Inc. owned 1.28% of Aclaris Therapeutics at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aclaris Therapeutics during the second quarter worth about $119,000. Assenagon Asset Management S.A. acquired a new position in Aclaris Therapeutics during the third quarter worth $214,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Aclaris Therapeutics by 187.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company's stock valued at $382,000 after acquiring an additional 216,826 shares during the period. Trium Capital LLP purchased a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth $2,081,000. Finally, Stonepine Capital Management LLC acquired a new position in shares of Aclaris Therapeutics during the 2nd quarter worth $2,120,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Aclaris Therapeutics Price Performance

Shares of NASDAQ ACRS traded down $0.01 during trading on Monday, hitting $3.93. The company had a trading volume of 682,776 shares, compared to its average volume of 1,400,707. Aclaris Therapeutics, Inc. has a 52 week low of $0.80 and a 52 week high of $5.17. The business's 50-day moving average is $2.31 and its 200 day moving average is $1.58.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The company had revenue of $4.35 million for the quarter, compared to analysts' expectations of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. On average, research analysts forecast that Aclaris Therapeutics, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. StockNews.com raised shares of Aclaris Therapeutics from a "sell" rating to a "hold" rating in a report on Friday, November 15th. BTIG Research upgraded Aclaris Therapeutics from a "neutral" rating to a "buy" rating and set a $8.00 price target on the stock in a report on Tuesday, November 19th. Leerink Partners raised Aclaris Therapeutics from a "market perform" rating to an "outperform" rating and upped their target price for the company from $2.00 to $7.00 in a report on Tuesday, November 19th. Piper Sandler raised Aclaris Therapeutics from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $3.00 to $13.00 in a research note on Monday, November 18th. Finally, Jefferies Financial Group raised shares of Aclaris Therapeutics from a "hold" rating to a "buy" rating and increased their price objective for the company from $2.00 to $7.00 in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Aclaris Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $8.80.

Insider Activity

In related news, Director Anand Mehra purchased 666,666 shares of Aclaris Therapeutics stock in a transaction that occurred on Tuesday, November 19th. The shares were acquired at an average price of $2.25 per share, for a total transaction of $1,499,998.50. Following the transaction, the director now directly owns 710,030 shares in the company, valued at approximately $1,597,567.50. This represents a 1,537.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 6.40% of the company's stock.

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.