Aclaris Therapeutics (NASDAQ:ACRS) Major Shareholder Braden Michael Leonard Sells 300,000 Shares

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) major shareholder Braden Michael Leonard sold 300,000 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the completion of the sale, the insider owned 13,950,000 shares of the company’s stock, valued at approximately $63,193,500. This represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Aclaris Therapeutics Price Performance

Shares of ACRS stock opened at $4.41 on Tuesday. The stock has a market cap of $615.90 million, a P/E ratio of -8.32 and a beta of 0.67. The company has a fifty day moving average price of $3.67 and a two-hundred day moving average price of $3.15. Aclaris Therapeutics, Inc. has a one year low of $1.16 and a one year high of $4.89.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.07 million. Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. As a group, equities research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $8.00 target price on shares of Aclaris Therapeutics in a research report on Tuesday, March 31st. UBS Group set a $10.00 price target on Aclaris Therapeutics in a report on Thursday, April 16th. Oppenheimer assumed coverage on Aclaris Therapeutics in a research note on Thursday, April 16th. They issued an “outperform” rating and a $10.00 price target for the company. Wall Street Zen lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, April 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.86.

Institutional Trading of Aclaris Therapeutics

Several large investors have recently modified their holdings of the stock. AXQ Capital LP acquired a new stake in Aclaris Therapeutics during the third quarter worth about $27,000. XTX Topco Ltd acquired a new position in shares of Aclaris Therapeutics in the 2nd quarter valued at approximately $34,000. R Squared Ltd bought a new stake in shares of Aclaris Therapeutics during the 4th quarter worth approximately $37,000. The Manufacturers Life Insurance Company bought a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $48,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Aclaris Therapeutics by 59.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock worth $51,000 after acquiring an additional 9,894 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

About Aclaris Therapeutics

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.