Insider Buying: Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Major Shareholder Acquires 235,000 Shares of Stock

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) major shareholder Braden Michael Leonard acquired 235,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was purchased at an average price of $1.15 per share, for a total transaction of $270,250.00. Following the completion of the acquisition, the insider now owns 11,787,134 shares in the company, valued at $13,555,204.10. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Braden Michael Leonard also recently made the following trade(s):

• On Monday, July 1st, Braden Michael Leonard bought 107,434 shares of Aclaris Therapeutics stock. The stock was purchased at an average price of $1.14 per share, with a total value of $122,474.76.
• On Monday, June 17th, Braden Michael Leonard bought 150,000 shares of Aclaris Therapeutics stock. The shares were acquired at an average cost of $1.13 per share, for a total transaction of $169,500.00.
• On Thursday, June 13th, Braden Michael Leonard bought 528,621 shares of Aclaris Therapeutics stock. The stock was bought at an average price of $1.15 per share, for a total transaction of $607,914.15.
• On Tuesday, June 11th, Braden Michael Leonard acquired 1,000,000 shares of Aclaris Therapeutics stock. The shares were purchased at an average cost of $1.08 per share, with a total value of $1,080,000.00.

Aclaris Therapeutics Price Performance

ACRS traded up $0.05 during trading on Monday, hitting $1.15. 1,651,796 shares of the stock traded hands, compared to its average volume of 1,279,422. The business has a 50 day moving average price of $1.16 and a 200 day moving average price of $1.17. The company has a market cap of $81.95 million, a price-to-earnings ratio of -1.06 and a beta of 0.27. Aclaris Therapeutics, Inc. has a twelve month low of $0.59 and a twelve month high of $11.12.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Tuesday, May 7th. The biotechnology company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.04. The company had revenue of $2.40 million for the quarter, compared to analyst estimates of $1.99 million. Aclaris Therapeutics had a negative net margin of 248.28% and a negative return on equity of 61.03%. On average, equities research analysts predict that Aclaris Therapeutics, Inc. will post -0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.25.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ACRS. Corton Capital Inc. purchased a new stake in shares of Aclaris Therapeutics in the third quarter valued at $102,000. Vontobel Holding Ltd. boosted its stake in Aclaris Therapeutics by 128.8% in the 4th quarter. Vontobel Holding Ltd. now owns 30,268 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 17,040 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Aclaris Therapeutics in the 1st quarter worth approximately $39,000. SG Americas Securities LLC boosted its holdings in shares of Aclaris Therapeutics by 69.5% in the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 13,461 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Aclaris Therapeutics by 115.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,784 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 23,467 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.