Bank of New York Mellon Corp Grows Position in Aclaris Therapeutics Inc (ACRS)

Bank of New York Mellon Corp increased its stake in shares of Aclaris Therapeutics Inc (NASDAQ:ACRS) by 24.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,015 shares of the biotechnology company’s stock after buying an additional 21,754 shares during the quarter. Bank of New York Mellon Corp owned about 0.41% of Aclaris Therapeutics worth $2,839,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. grew its holdings in shares of Aclaris Therapeutics by 171.8% during the second quarter. Citigroup Inc. now owns 4,313 shares of the biotechnology company’s stock worth $117,000 after buying an additional 2,726 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Aclaris Therapeutics by 98.3% during the second quarter. Legal & General Group Plc now owns 5,254 shares of the biotechnology company’s stock worth $142,000 after buying an additional 2,605 shares during the last quarter. Voya Investment Management LLC purchased a new position in shares of Aclaris Therapeutics during the second quarter worth about $247,000. PNC Financial Services Group Inc. grew its holdings in shares of Aclaris Therapeutics by 26.0% during the second quarter. PNC Financial Services Group Inc. now owns 9,220 shares of the biotechnology company’s stock worth $250,000 after buying an additional 1,900 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Aclaris Therapeutics by 2,828.4% during the second quarter. Sei Investments Co. now owns 11,040 shares of the biotechnology company’s stock worth $300,000 after buying an additional 10,663 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on ACRS. JMP Securities reissued an “outperform” rating and set a $39.00 price target on shares of Aclaris Therapeutics in a report on Friday, September 8th. Cantor Fitzgerald set a $50.00 price target on Aclaris Therapeutics and gave the stock a “buy” rating in a report on Wednesday, October 4th. Zacks Investment Research lowered Aclaris Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. ValuEngine lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Finally, BidaskClub raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $39.20.

Shares of Aclaris Therapeutics Inc (ACRS) opened at $24.63 on Friday. Aclaris Therapeutics Inc has a twelve month low of $21.32 and a twelve month high of $33.25. The firm has a market capitalization of $752.25 and a P/E ratio of -11.40.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Tuesday, November 7th. The biotechnology company reported ($0.63) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.86) by $0.23. The business had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $2.00 million. analysts predict that Aclaris Therapeutics Inc will post -2.59 earnings per share for the current year.

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Aclaris Therapeutics 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.

Institutional Ownership by Quarter for Aclaris Therapeutics (NASDAQ:ACRS)

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