Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 173.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 908,819 shares of the biotechnology company’s stock after purchasing an additional 576,413 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 1.27% of Aclaris Therapeutics worth $2,254,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of Aclaris Therapeutics in the 4th quarter worth $383,000. Charles Schwab Investment Management Inc. acquired a new position in Aclaris Therapeutics during the 4th quarter worth about $82,000. Peapod Lane Capital LLC purchased a new position in Aclaris Therapeutics during the 4th quarter valued at about $1,003,000. Assenagon Asset Management S.A. grew its position in Aclaris Therapeutics by 113.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock valued at $985,000 after acquiring an additional 211,585 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Aclaris Therapeutics by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after acquiring an additional 72,309 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. StockNews.com lowered shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 8th. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Cantor Fitzgerald started coverage on Aclaris Therapeutics in a report on Tuesday. They issued an “overweight” rating for the company. Scotiabank began coverage on Aclaris Therapeutics in a research note on Friday, March 7th. They set a “sector outperform” rating and a $15.00 target price for the company. Finally, BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.67.

Aclaris Therapeutics Price Performance

Aclaris Therapeutics stock opened at $1.58 on Wednesday. The stock’s fifty day moving average is $2.22 and its two-hundred day moving average is $2.21. The stock has a market cap of $170.51 million, a PE ratio of -3.04 and a beta of 0.48. Aclaris Therapeutics, Inc. has a 1-year low of $0.95 and a 1-year high of $5.17.

Aclaris Therapeutics Profile

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.