Geode Capital Management LLC Has $974,000 Stock Position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Geode Capital Management LLC grew its position in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 9.3% in the third quarter, HoldingsChannel reports. The fund owned 846,446 shares of the biotechnology company’s stock after acquiring an additional 72,309 shares during the period. Geode Capital Management LLC’s holdings in Aclaris Therapeutics were worth $974,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Aclaris Therapeutics during the 2nd quarter valued at $119,000. Assenagon Asset Management S.A. acquired a new stake in Aclaris Therapeutics during the 3rd quarter valued at $214,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Aclaris Therapeutics by 187.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock valued at $382,000 after purchasing an additional 216,826 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Aclaris Therapeutics during the 3rd quarter valued at $1,053,000. Finally, Stonepine Capital Management LLC acquired a new stake in Aclaris Therapeutics during the 2nd quarter valued at $2,120,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACRS. Jefferies Financial Group upgraded Aclaris Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. HC Wainwright upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, December 23rd. Finally, Cantor Fitzgerald upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Aclaris Therapeutics presently has an average rating of “Buy” and an average price target of $11.00.

Insider Activity

In other Aclaris Therapeutics news, Director Anand Mehra bought 666,666 shares of the stock in a transaction on Tuesday, November 19th. The stock was acquired at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the acquisition, the director now owns 710,030 shares in the company, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 6.40% of the company’s stock.

Aclaris Therapeutics Stock Performance

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

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

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.