BVF Partners LP recently announced the acquisition of new stake in Aclaris Therapeutics Inc (NASDAQ:ACRS). The institutional investor has increased its shareholding in the Healthcare company by 110.20% to 7.06 million shares with purchase of 3.7 million shares. This fresh investment now brings its stake to 9.98% valued currently at $35.18 million. In addition, BlackRock Fund Advisors raised its holdings by 42707.0 to 4.87 million shares. And Citadel Advisors LLC has lifted its position by 28.47% or 0.74 million shares – to 3.32 million shares.
With over 12.28 million Aclaris Therapeutics Inc (ACRS) shares trading Friday and a closing price of $0.95 on the day, the dollar volume was approximately $11.67 million. The shares have shown a negative half year performance of -88.33% and its price on 11/17/23 gained nearly 7.81%. Currently, there are 66.69M common shares owned by the public and among those 58.58M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for ACRS have a consensus price objective of $9.00. The analysts have set the share’s price value over the next 12 months at a high of $27.00 and a low of $1.00. The average price target is 89.44% above its recent price level and an upside to the estimated low will see the stock gain 5.0% over that period. But an upside of 96.48% will see the stock hit the forecast high price target while median target price for the stock is $5.50.
Insiders at the company have transacted a total of 48 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 28 of these insider trades were purchases, accounting for 309,504 shares. Insider sales of the common stock occurred on 20 occasions, with total insider shares sold totaling 167,530 shares.
The top 3 mutual fund holders in Aclaris Therapeutics Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Xtrackers SICAV – S&P 500 Swap UC. Vanguard Total Stock Market ETF owns 1.84 million shares of the company’s stock, all valued at over $9.16 million. iShares Russell 2000 ETF sold 16107.0 shares to see its total holdings shrink to 1.61 million shares valued at over $7.99 million and representing 2.27% of the shares outstanding. Xtrackers SICAV – S&P 500 Swap UC now owns shares totaling to 1.30% of the shares outstanding.
Shares of Aclaris Therapeutics Inc (NASDAQ: ACRS) opened at $0.8987, up $0.01 from a prior closing price of $0.89. However, the script later moved the day high at 1.0400, up 7.81%. The company’s stock has a 5-day price change of -79.93% and -87.00% over the past three months. ACRS shares are trading -93.94% year to date (YTD), with the 12-month market performance down to -94.69% lower. It has a 12-month low price of $0.59 and touched a high of $18.88 over the same period. ACRS has an average intraday trading volume of 3.19 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -77.01%, -82.90%, and -88.77% respectively.
Institutional ownership of Aclaris Therapeutics Inc (NASDAQ: ACRS) shares accounts for 84.40% of the company’s 66.69M shares outstanding. Mutual fund holders own 36.18%, while other institutional holders and individual stakeholders account for 62.48% and 22.00% respectively.
It has a market capitalization of $67.60M and a beta (3y monthly) value of 0.34. The earnings-per-share (ttm) stands at -$1.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 18.78% over the week and 10.34% over the month.
Analysts forecast that Aclaris Therapeutics Inc (ACRS) will achieve an EPS of -$0.38 for the current quarter, -$0.34 for the next quarter and -$1.34 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.5 while analysts give the company a high EPS estimate of -$0.19. Comparatively, EPS for the current quarter was -$0.41 a year ago. Earnings per share for the fiscal year are expected to decrease by -23.53%, and 18.12% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Aclaris Therapeutics Inc (ACRS) as a “Moderate Buy” at a consensus score of 2.11. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 5 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
