Aclaris Therapeutics Inc. (NASDAQ: ACRS) stock fell -1.59% on Monday to $7.43 against a previous-day closing price of $7.55. With 1.35 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.71 million shares. The 52-week range on ACRS shows that it touched its highest point at $18.96 and its lowest point at $5.77 during that stretch. It currently has a 1-year price target of $31.14. Beta for the stock currently stands at 0.66.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ACRS was down-trending over the past week, with a drop of -5.11%, but this was up by 3.77% over a month. Three-month performance dropped to -27.30% while six-month performance fell -5.83%. The stock lost -48.37% in the past year, while it has lost -52.83% so far this year. A look at the trailing 12-month EPS for ACRS yields -1.55 with Next year EPS estimates of -1.86. For the next quarter, that number is -0.48. This implies an EPS growth rate of 16.80% for this year and -3.90% for next year.
Float and Shares Shorts:
At present, 70.63 million ACRS shares are outstanding with a float of 64.88 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.7 million, which was 8.05% higher than short shares on Jul 30, 2023. In addition to Dr. Neal S. Walker D.O. as the firm’s Co-Founder & Chairman, Dr. Douglas J. Manion Frcp(C), M.D. serves as its CEO, Pres & Director.
Through their ownership of 102.65% of ACRS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 66.18% of ACRS, in contrast to 36.19% held by mutual funds. Shares owned by individuals account for 20.49%. As the largest shareholder in ACRS with 10.79% of the stake, Wellington Management Co. LLP holds 7,637,868 shares worth 7,637,868. A second-largest stockholder of ACRS, BlackRock Fund Advisors, holds 4,828,288 shares, controlling over 6.82% of the firm’s shares. RA Capital Management LP is the third largest shareholder in ACRS, holding 4,398,453 shares or 6.21% stake. With a 2.60% stake in ACRS, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,838,428 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.19% of ACRS stock, is the second-largest Mutual Fund holder. It holds 1,552,174 shares valued at 11.61 million. Xtrackers SICAV – S&P 500 Swap UC holds 1.30% of the stake in ACRS, owning 923,313 shares worth 6.91 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ACRS reported revenue of $1.53M and operating income of -$24.39M. The EBITDA in the recently reported quarter was -$27.59M and diluted EPS was -$0.31.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ACRS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ACRS analysts setting a high price target of $43.00 and a low target of $20.00, the average target price over the next 12 months is $30.63. Based on these targets, ACRS could surge 478.73% to reach the target high and rise by 169.18% to reach the target low. Reaching the average price target will result in a growth of 312.25% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ACRS stock several times over the past three months with 3 Buys and 4 Sells. In these transactions, 47,075 shares were bought while 21,844 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 32 over the past year. The total number of shares bought during that period was 343,984 while 355,045 shares were sold.