Aclaris Therapeutics (NASDAQ:ACRS) Sees Unusually-High Trading Volume

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) saw strong trading volume on Wednesday . 14,322 shares changed hands during mid-day trading, a decline of 97% from the previous session’s volume of 505,183 shares.The stock last traded at $17.81 and had previously closed at $18.76.

A number of analysts recently issued reports on the company. HC Wainwright assumed coverage on Aclaris Therapeutics in a report on Wednesday, April 21st. They issued a “buy” rating for the company. Zacks Investment Research lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, May 25th.

The firm has a market capitalization of $1.02 billion, a P/E ratio of -14.04 and a beta of 0.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.27 and a current ratio of 9.27. The stock has a 50 day moving average of $24.08.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Thursday, May 6th. The biotechnology company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.27). Aclaris Therapeutics had a negative return on equity of 107.60% and a negative net margin of 936.71%. Equities research analysts predict that Aclaris Therapeutics, Inc. will post -1.55 earnings per share for the current fiscal year.

In other news, CFO Frank Ruffo sold 30,000 shares of the company’s stock in a transaction on Thursday, April 22nd. The stock was sold at an average price of $26.84, for a total transaction of $805,200.00. Following the transaction, the chief financial officer now directly owns 209,059 shares of the company’s stock, valued at $5,611,143.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Neal Walker sold 33,260 shares of the company’s stock in a transaction on Wednesday, June 2nd. The stock was sold at an average price of $21.64, for a total value of $719,746.40. Following the transaction, the chief executive officer now directly owns 1,265,442 shares in the company, valued at $27,384,164.88. The disclosure for this sale can be found here. Insiders sold 149,507 shares of company stock valued at $3,616,811 in the last three months. 8.20% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of ACRS. Cormorant Asset Management LP acquired a new position in shares of Aclaris Therapeutics during the first quarter worth $50,400,000. Rock Springs Capital Management LP increased its position in shares of Aclaris Therapeutics by 33.4% in the 1st quarter. Rock Springs Capital Management LP now owns 3,569,192 shares of the biotechnology company’s stock valued at $89,944,000 after acquiring an additional 893,092 shares during the period. Frazier Management LLC acquired a new position in shares of Aclaris Therapeutics in the 1st quarter valued at $17,539,000. Ghost Tree Capital LLC acquired a new position in shares of Aclaris Therapeutics in the 4th quarter valued at $4,206,000. Finally, Perceptive Advisors LLC acquired a new position in shares of Aclaris Therapeutics in the 1st quarter valued at $16,380,000. 87.24% of the stock is currently owned by institutional investors and hedge funds.

About Aclaris Therapeutics (NASDAQ:ACRS)

Aclaris Therapeutics, Inc is a clinical-stage biopharmaceutical company developing a pipeline of novel, small molecule therapeutics to address the needs of patients with immuno-inflammatory diseases. The company has a multi-stage portfolio of drug candidates powered by a research and development engine exploring protein kinase regulation.

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