Aclaris Therapeutics (NASDAQ:ACRS) Shares Down 52.1%

Aclaris Therapeutics Inc (NASDAQ:ACRS) traded down 52.1% during trading on Thursday . The stock traded as low as $2.02 and last traded at $2.13. 7,856,690 shares traded hands during mid-day trading, an increase of 1,285% from the average session volume of 567,080 shares. The stock had previously closed at $4.45.

Several research analysts have commented on the stock. Svb Leerink assumed coverage on shares of Aclaris Therapeutics in a report on Monday, May 6th. They issued an “outperform” rating and a $13.00 price objective for the company. Cantor Fitzgerald restated a “buy” rating and issued a $50.00 price objective on shares of Aclaris Therapeutics in a report on Friday, March 15th. BidaskClub upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Zacks Investment Research upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 7th. Finally, Leerink Swann lowered shares of Aclaris Therapeutics from an “outperform” rating to a “market perform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $19.69.

The firm has a 50-day moving average price of $4.89. The firm has a market capitalization of $90.38 million, a PE ratio of -0.54 and a beta of 1.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.33 and a quick ratio of 4.30.

Aclaris Therapeutics (NASDAQ:ACRS) last released its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.91) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.86) by ($0.05). The business had revenue of $5.04 million during the quarter, compared to analysts’ expectations of $5.13 million. Aclaris Therapeutics had a negative return on equity of 78.05% and a negative net margin of 999.53%. On average, sell-side analysts anticipate that Aclaris Therapeutics Inc will post -2.98 EPS for the current year.

In other news, major shareholder James E. Flynn sold 339,537 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $4.62, for a total value of $1,568,660.94. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder James E. Flynn sold 614,710 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $6.13, for a total transaction of $3,768,172.30. The disclosure for this sale can be found here. Insiders sold a total of 1,408,508 shares of company stock worth $7,421,891 over the last ninety days. Insiders own 14.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in shares of Aclaris Therapeutics by 50.6% in the fourth quarter. Rhumbline Advisers now owns 39,490 shares of the biotechnology company’s stock valued at $292,000 after acquiring an additional 13,269 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $198,000. BlackRock Inc. raised its stake in shares of Aclaris Therapeutics by 43.8% in the fourth quarter. BlackRock Inc. now owns 3,620,835 shares of the biotechnology company’s stock valued at $26,759,000 after acquiring an additional 1,103,423 shares during the last quarter. Citigroup Inc. raised its stake in shares of Aclaris Therapeutics by 3,200.0% in the fourth quarter. Citigroup Inc. now owns 3,993 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 3,872 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Aclaris Therapeutics by 25.6% in the fourth quarter. Northern Trust Corp now owns 444,942 shares of the biotechnology company’s stock valued at $3,288,000 after acquiring an additional 90,791 shares during the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

About Aclaris Therapeutics (NASDAQ:ACRS)

Aclaris Therapeutics, Inc, a biopharmaceutical company, focuses on identifying, developing, and commercializing various therapies for dermatological and immuno-inflammatory diseases in the United States. It operates in two segments, Dermatology Therapeutics and Contract Research. The company offers ESKATA, a formulation of high-concentration hydrogen peroxide topical solution for raised seborrheic keratosis, a common non-malignant skin tumor; and RHOFADE, an oxymetazoline hydrochloride cream.

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