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Aclaris Therapeutics, Inc. (NASDAQ:ACRS – Get Rating)’s share price was down 10% on Monday following insider selling activity. The company traded as low as $14.03 and last traded at $14.03. Approximately 1,095 shares changed hands during trading, a decline of 100% from the average daily volume of 410,858 shares. The stock had previously closed at $15.59.Specifically, insider Joseph Monahan sold 5,000 shares of Aclaris Therapeutics stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $15.88, for a total transaction of $79,400.00. Following the sale, the insider now owns 96,386 shares of the company’s stock, valued at approximately $1,530,609.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Joseph Monahan sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $15.88, for a total transaction of $79,400.00. Following the transaction, the insider now owns 96,386 shares in the company, valued at approximately $1,530,609.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andrew N. Schiff sold 7,700 shares of the company’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $16.01, for a total value of $123,277.00. Following the transaction, the director now directly owns 626,755 shares in the company, valued at approximately $10,034,347.55. The disclosure for this sale can be found here. Insiders have sold 104,639 shares of company stock worth $1,724,333 in the last quarter. 6.70% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on ACRS shares. SVB Leerink restated an “outperform” rating on shares of Aclaris Therapeutics in a report on Tuesday, November 8th. StockNews.com initiated coverage on shares of Aclaris Therapeutics in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. The Goldman Sachs Group assumed coverage on shares of Aclaris Therapeutics in a report on Thursday, December 1st. They set a “buy” rating and a $25.00 price target on the stock. BTIG Research initiated coverage on Aclaris Therapeutics in a research note on Thursday, October 6th. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on shares of Aclaris Therapeutics in a research note on Tuesday, December 13th. They issued a “buy” rating and a $29.00 price objective on the stock. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Aclaris Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $34.00.
Aclaris Therapeutics Stock Performance
The business has a fifty day moving average of $16.28 and a 200-day moving average of $15.81. The company has a market capitalization of $965.57 million, a P/E ratio of -10.99 and a beta of 0.54.
Institutional Trading of Aclaris Therapeutics
A number of institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC bought a new position in Aclaris Therapeutics during the second quarter worth about $26,000. Great West Life Assurance Co. Can bought a new position in shares of Aclaris Therapeutics in the third quarter worth $31,000. UBS Group AG raised its position in shares of Aclaris Therapeutics by 41.4% in the second quarter. UBS Group AG now owns 2,406 shares of the biotechnology company’s stock worth $34,000 after buying an additional 704 shares in the last quarter. Amalgamated Bank bought a new stake in Aclaris Therapeutics during the first quarter valued at $143,000. Finally, Cubist Systematic Strategies LLC increased its stake in Aclaris Therapeutics by 163.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 9,050 shares of the biotechnology company’s stock worth $126,000 after acquiring an additional 5,621 shares during the last quarter. 95.08% of the stock is owned by hedge funds and other institutional investors.
About Aclaris Therapeutics
(Get Rating)
Aclaris Therapeutics, Inc operates a clinical-stage biopharmaceutical company, develops novel drug candidates for immune-inflammatory diseases in the United States. It operates through two segments: Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing innovative therapies to address significant unmet needs for immuno-inflammatory diseases.
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