Connor Clark & Lunn Investment Management Ltd. Makes New $6.40 Million Investment in Aclaris Therapeutics, Inc. $ACRS

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) during the second quarter, HoldingsChannel reports. The institutional investor acquired 1,209,886 shares of the biotechnology company’s stock, valued at approximately $6,400,000.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Aclaris Therapeutics in the second quarter worth $53,096,000. Rock Springs Capital Management LP lifted its holdings in Aclaris Therapeutics by 0.4% in the first quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after buying an additional 18,909 shares during the period. Millennium Management LLC lifted its stake in shares of Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after purchasing an additional 2,175,101 shares during the period. Geode Capital Management LLC lifted its stake in shares of Aclaris Therapeutics by 108.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after purchasing an additional 1,282,042 shares during the period. Finally, Kalehua Capital Management LLC purchased a new stake in Aclaris Therapeutics in the first quarter worth $6,871,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Wedbush raised their price objective on Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Guggenheim initiated coverage on Aclaris Therapeutics in a research note on Tuesday, May 5th. They set a “buy” rating and a $12.00 price objective for the company. Lifesci Capital initiated coverage on Aclaris Therapeutics in a report on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 target price on the stock. Finally, Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $11.50.

Aclaris Therapeutics Stock Down 5.2%

Shares of NASDAQ ACRS opened at $6.19 on Thursday. The firm has a market cap of $865.49 million, a P/E ratio of -10.67 and a beta of 0.78. Aclaris Therapeutics, Inc. has a twelve month low of $1.74 and a twelve month high of $6.60. The company has a 50 day moving average of $5.58 and a 200 day moving average of $4.55.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. The business had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.38 million. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. As a group, equities analysts expect that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Aclaris Therapeutics Company Profile

Aclaris Therapeutics, Inc (NASDAQ:ACRS) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing novel small‐molecule therapies for dermatologic diseases and related rare disorders. The company’s pipeline includes several product candidates designed to address chronic inflammatory skin conditions and non‐melanoma skin lesions. Lead programs include ATI‐50002, a topical agent in late‐stage development for molluscum contagiosum removal; ATI‐50003 for common wart resolution; ATI‐1501, an oral JAK1/2 inhibitor targeting pruritic disorders; and ATI‐450, an oral MK2 inhibitor for inflammatory indications.

Founded in 2016 and headquartered in Malvern, Pennsylvania, Aclaris leverages proprietary chemistry platforms and translational research capabilities to advance multiple clinical and preclinical candidates.