Stonepine Capital Management LLC Boosts Stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Stonepine Capital Management LLC increased its stake in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 27.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,458,873 shares of the biotechnology company’s stock after buying an additional 531,427 shares during the quarter. Aclaris Therapeutics comprises approximately 1.8% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. Stonepine Capital Management LLC’s holdings in Aclaris Therapeutics were worth $2,828,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC raised its position in Aclaris Therapeutics by 69.5% during the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after buying an additional 13,461 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Aclaris Therapeutics by 5,265.1% in the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 61,602 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Aclaris Therapeutics during the second quarter worth $119,000. Assenagon Asset Management S.A. acquired a new position in Aclaris Therapeutics during the third quarter valued at $214,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted 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 purchasing an additional 216,826 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. BTIG Research raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a report on Tuesday, November 19th. Leerink Partnrs raised shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $2.00 to $7.00 in a report on Tuesday, November 19th. Finally, Cantor Fitzgerald raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.80.

Insider Buying and Selling at Aclaris Therapeutics

In other Aclaris Therapeutics news, Director Anand Mehra bought 666,666 shares of Aclaris Therapeutics stock in a transaction on Tuesday, November 19th. The shares were bought at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the acquisition, the director now directly owns 710,030 shares in the company, valued at $1,597,567.50. This represents a 1,537.37 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.40% of the stock is owned by corporate insiders.

Aclaris Therapeutics Price Performance

Aclaris Therapeutics stock traded up $0.09 during midday trading on Wednesday, hitting $3.72. 74,855 shares of the stock were exchanged, compared to its average volume of 1,412,578. The stock’s 50-day simple moving average is $1.87 and its 200 day simple moving average is $1.43. Aclaris Therapeutics, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The business had revenue of $4.35 million for the quarter, compared to analysts’ expectations of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. Sell-side analysts anticipate that Aclaris Therapeutics, Inc. will post -0.75 earnings per share for the current year.

Aclaris Therapeutics Company 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.