Aclaris Therapeutics Inc (NASDAQ: ACRS) stock fell -1.48% on Monday to $0.94 against a previous-day closing price of $0.95. With 9.85 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.37 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $0.9872 whereas the lowest price it dropped to was $0.8503. The 52-week range on ACRS shows that it touched its highest point at $18.88 and its lowest point at $0.59 during that stretch. It currently has a 1-year price target of $9.00. Beta for the stock currently stands at 0.34.
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 up-trending over the past week, with a rise of 45.79%, but this was down by -82.19% over a month. Three-month performance dropped to -87.53% while six-month performance fell -88.78%. The stock lost -94.78% in the past year, while it has lost -94.03% so far this year. A look at the trailing 12-month EPS for ACRS yields -1.67 with Next year EPS estimates of -1.35. For the next quarter, that number is -0.38. This implies an EPS growth rate of -23.53% for this year and 18.12% for next year.
Float and Shares Shorts:
At present, 66.69 million ACRS shares are outstanding with a float of 58.58 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.58 million, which was 9.28% higher than short shares on Sep 28, 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, President & Director.
Through their ownership of 102.65% of ACRS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 62.48% of ACRS, in contrast to 36.18% held by mutual funds. Shares owned by individuals account for 22.00%. As the largest shareholder in ACRS with 9.98% of the stake, BVF Partners LP holds 7,064,736 shares worth 7,064,736. A second-largest stockholder of ACRS, Wellington Management Co. LLP, holds 6,979,844 shares, controlling over 9.86% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in ACRS, holding 4,870,995 shares or 6.88% 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 2.27% of ACRS stock, is the second-largest Mutual Fund holder. It holds 1,605,409 shares valued at 7.99 million. Xtrackers SICAV – S&P 500 Swap UC holds 1.30% of the stake in ACRS, owning 923,313 shares worth 4.6 million.
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 $27.00 and a low target of $1.00, the average target price over the next 12 months is $9.00. Based on these targets, ACRS could surge 2772.34% to reach the target high and rise by 6.38% to reach the target low. Reaching the average price target will result in a growth of 857.45% from current levels.
Summary of Insider Activity:
Insiders traded ACRS stock several times over the past three months with 3 Buys and 2 Sells. In these transactions, 25,195 shares were bought while 6,285 shares were sold. The number of buy transactions has increased to 28 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 309,504 while 167,530 shares were sold.