Bank of America Corp DE Buys 196,708 Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Bank of America Corp DE raised its stake in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 2,246.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 205,465 shares of the biotechnology company’s stock after purchasing an additional 196,708 shares during the period. Bank of America Corp DE owned 0.29% of Aclaris Therapeutics worth $510,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. 683 Capital Management LLC bought a new stake in Aclaris Therapeutics during the fourth quarter valued at about $539,000. RA Capital Management L.P. bought a new stake in Aclaris Therapeutics during the fourth quarter valued at about $11,573,000. Monashee Investment Management LLC bought a new stake in Aclaris Therapeutics during the fourth quarter valued at about $2,204,000. Samsara BioCapital LLC grew its holdings in Aclaris Therapeutics by 242.6% during the fourth quarter. Samsara BioCapital LLC now owns 2,385,060 shares of the biotechnology company’s stock valued at $5,915,000 after purchasing an additional 1,688,889 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Aclaris Therapeutics during the fourth quarter valued at about $327,000. Institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Trading Up 1.3%

NASDAQ:ACRS opened at $1.51 on Wednesday. The company has a market capitalization of $163.50 million, a P/E ratio of -2.90 and a beta of 0.41. Aclaris Therapeutics, Inc. has a 12 month low of $1.01 and a 12 month high of $5.17. The business’s 50-day moving average is $1.30 and its 200 day moving average is $2.07.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. On average, research analysts forecast that Aclaris Therapeutics, Inc. will post -0.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ACRS. HC Wainwright reissued a “buy” rating and set a $16.00 price target (down previously from $20.00) on shares of Aclaris Therapeutics in a report on Wednesday, May 14th. Scotiabank lowered their price objective on Aclaris Therapeutics from $15.00 to $9.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 9th. Cantor Fitzgerald initiated coverage on Aclaris Therapeutics in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Finally, Wedbush initiated coverage on Aclaris Therapeutics in a research report on Wednesday, May 28th. They issued an “outperform” rating and a $8.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.71.

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.