Palo Alto Investors LP bought a new position in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,613,430 shares of the biotechnology company’s stock, valued at approximately $8,535,045,000. Aclaris Therapeutics makes up about 1.2% of Palo Alto Investors LP’s holdings, making the stock its 25th biggest position. Palo Alto Investors LP owned about 1.15% of Aclaris Therapeutics as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. XTX Topco Ltd bought a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $34,000. R Squared Ltd bought a new position in Aclaris Therapeutics in the fourth quarter valued at approximately $37,000. The Manufacturers Life Insurance Company bought a new position in Aclaris Therapeutics in the second quarter valued at approximately $48,000. BNP Paribas Financial Markets increased its stake in Aclaris Therapeutics by 59.0% in the third quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company’s stock valued at $51,000 after acquiring an additional 9,894 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in Aclaris Therapeutics during the fourth quarter valued at approximately $52,000. Institutional investors own 98.34% of the company’s stock.
Aclaris Therapeutics Stock Performance
Shares of NASDAQ:ACRS opened at $6.16 on Friday. The firm has a market cap of $861.29 million, a PE ratio of -10.62 and a beta of 0.78. The firm’s fifty day moving average is $5.62 and its 200-day moving average is $4.57. Aclaris Therapeutics, Inc. has a 52 week low of $1.74 and a 52 week high of $6.60.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on ACRS shares. Lifesci Capital began coverage on Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price target for the company. Guggenheim initiated coverage on Aclaris Therapeutics in a research note on Tuesday, May 5th. They issued a “buy” rating and a $12.00 price objective on the stock. Piper Sandler lifted their target price on Aclaris Therapeutics from $7.00 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Finally, Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Aclaris Therapeutics has an average rating of “Buy” and a consensus price target of $11.50.
Check Out Our Latest Stock Analysis on ACRS
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.
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