Sofinnova Management VIII L.L.C. held its position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,539,480 shares of the biotechnology company’s stock at the end of the second quarter. Aclaris Therapeutics comprises about 23.4% of Sofinnova Management VIII L.L.C.’s holdings, making the stock its largest position. Sofinnova Management VIII L.L.C. owned about 5.76% of Aclaris Therapeutics worth $41,751,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in ACRS. FMR LLC increased its position in Aclaris Therapeutics by 253.1% in the first quarter. FMR LLC now owns 1,653,937 shares of the biotechnology company’s stock valued at $49,321,000 after buying an additional 1,185,598 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new position in shares of Aclaris Therapeutics during the first quarter worth $21,116,000. Marshall Wace North America L.P. purchased a new position in shares of Aclaris Therapeutics during the first quarter worth $21,116,000. Point72 Asset Management L.P. purchased a new position in shares of Aclaris Therapeutics during the first quarter worth $13,715,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of Aclaris Therapeutics during the first quarter worth $11,927,000. 88.64% of the stock is owned by hedge funds and other institutional investors.
Aclaris Therapeutics, Inc. (ACRS) traded up 8.95% during midday trading on Friday, reaching $25.08. The company’s stock had a trading volume of 1,243,235 shares. The firm has a 50-day moving average price of $27.77 and a 200 day moving average price of $27.95. The stock’s market capitalization is $670.54 million. Aclaris Therapeutics, Inc. has a 52-week low of $18.74 and a 52-week high of $33.25.
Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.12. Equities research analysts predict that Aclaris Therapeutics, Inc. will post ($3.10) EPS for the current fiscal year.
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ACRS has been the topic of a number of research analyst reports. Zacks Investment Research cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, May 12th. ValuEngine cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, June 6th. Jefferies Group LLC set a $36.00 price objective on Aclaris Therapeutics and gave the company a “buy” rating in a report on Thursday, April 20th. Cantor Fitzgerald initiated coverage on Aclaris Therapeutics in a report on Friday, June 16th. They issued an “overweight” rating and a $50.00 price objective for the company. Finally, BidaskClub lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $39.00.
Aclaris Therapeutics Company Profile
Aclaris Therapeutics, Inc is a dermatologist-led, biopharmaceutical company. The Company is focused on identifying, developing and commercializing differentiated drugs for the treatment of dermatological indications. The Company is also focused on the discovery and development of kinase inhibitors to treat inflammatory and immunological disorders and cancer.
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