Braden Michael LEONARD, a major shareholder of Aclaris Therapeutics, Inc., listed on the NASDAQ exchange under ticker ACRS, has been actively purchasing his own company’s stocks. In the last few weeks, he disclosed buying 4,052,031 shares with his own funds, totalling $4,557,727.69, through SEC EDGAR filings. He now holds 13,181,664 shares, which are valued at $16,740,713.28 at the current market price.
These transactions have increased Mr Leonard’s unrealised profit on Aclaris Therapeutics by $588,351.68 over the past month alone. Over the last month, the share price gained 19.8%, rising from $1.06 to $1.27 per share. Aclaris Therapeutics is engaged in drug discovery and development, focusing on kinase inhibition science to create small molecule therapies for immuno-inflammatory conditions. The company operates through two segments: Therapeutics and Contract Research.
This activity is notable for a company that has reported a loss of $77,262,000 in the last financial year and still remains unprofitable, while analysts have increased their price target as high as $22 per share.
What could be behind these actions? Perhaps, is the company anticipating imminent patent approval? Despite the company not being profitable, could analysts be raising their price target in expectation of increased future cash flows and profitability levels? Alternatively, might Mr Leonard’s frequent share purchases be a strategic move to increase his control and influence over the company?
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Please note that the information provided does not constitute financial advice. Investing in the share market involves risks. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
This research was produced using analysis tools developed by SREITO. The original raw data, which was disclosed during the previous month, is publicly available from SEC EDGAR and was retrieved on July 8, 2024 (Reito, 2024; U.S. Securities and Exchange Commission, n.d.).
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References
Reito, S. (2024, July 10). Why is a major shareholder of NASDAQ-listed Aclaris Therapeutics investing millions more in company shares? A deep dive. https://resources.sreito.com/index.php/2024/07/10/aclaris-therapeutics-insider-trader-report/
U.S. Securities and Exchange Commission. (n.d.). EDGAR database. Retrieved July 8, 2024, from https://www.sec.gov/edgar/browse/?CIK=0001373603