Geode Capital Management LLC Grows Stock Holdings in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Geode Capital Management LLC grew its holdings in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 9.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 846,446 shares of the biotechnology company’s stock after buying an additional 72,309 shares during the quarter. Geode Capital Management LLC owned 1.19% of Aclaris Therapeutics worth $974,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Stonepine Capital Management LLC acquired a new position in shares of Aclaris Therapeutics during the second quarter worth $2,120,000. BML Capital Management LLC lifted its position in shares of Aclaris Therapeutics by 9.7% during the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after purchasing an additional 1,261,866 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Aclaris Therapeutics during the third quarter worth $1,053,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Aclaris Therapeutics by 187.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock worth $382,000 after purchasing an additional 216,826 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Aclaris Therapeutics during the third quarter worth $214,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Aclaris Therapeutics Stock Performance

NASDAQ:ACRS opened at $2.47 on Friday. The stock’s 50 day moving average price is $3.07 and its 200 day moving average price is $1.88. Aclaris Therapeutics, Inc. has a 52 week low of $0.86 and a 52 week high of $5.17. The company has a market capitalization of $176.43 million, a P/E ratio of -4.75 and a beta of 0.54.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The company had revenue of $4.35 million for the quarter, compared to analyst estimates of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. As a group, sell-side analysts forecast that Aclaris Therapeutics, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACRS. StockNews.com raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Leerink Partners raised shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their price target for the company from $2.00 to $7.00 in a report on Tuesday, November 19th. BTIG Research raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Tuesday, November 19th. HC Wainwright raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, December 23rd. Finally, Leerink Partnrs raised shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $11.00.

Insider Buying and Selling

In other Aclaris Therapeutics news, Director Anand Mehra purchased 666,666 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was acquired at an average cost of $2.25 per share, with a total value of $1,499,998.50. Following the completion of the acquisition, the director now directly owns 710,030 shares of the company’s stock, valued at $1,597,567.50. This represents a 1,537.37 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is owned by company insiders.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.