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

Connor Clark & Lunn Investment Management Ltd. raised its stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 187.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 332,406 shares of the biotechnology company's stock after acquiring an additional 216,826 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.47% of Aclaris Therapeutics worth $382,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. BML Capital Management LLC lifted its position in 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 valued at $16,388,000 after purchasing an additional 1,261,866 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Aclaris Therapeutics by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company's stock valued at $6,113,000 after acquiring an additional 207,418 shares during the last quarter. Millennium Management LLC grew its position in Aclaris Therapeutics by 1.9% in the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company's stock worth $3,671,000 after acquiring an additional 63,358 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in Aclaris Therapeutics during the second quarter worth approximately $2,120,000. Finally, Trium Capital LLP increased its stake in Aclaris Therapeutics by 1.1% during the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company's stock worth $2,200,000 after acquiring an additional 20,940 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Analyst Ratings Changes

ACRS has been the subject of a number of recent research reports. BTIG Research upgraded Aclaris Therapeutics from a "neutral" rating to a "buy" rating and set a $8.00 target price for the company in a report on Tuesday, November 19th. StockNews.com raised shares of Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research note on Friday, November 15th. Cantor Fitzgerald upgraded shares of Aclaris Therapeutics from a "neutral" rating to an "overweight" rating in a report on Wednesday, November 20th. Leerink Partnrs upgraded shares of Aclaris Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 19th. Finally, HC Wainwright reissued a "neutral" rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Aclaris Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $8.80.

Aclaris Therapeutics Trading Up 6.5 %

ACRS traded up $0.25 on Friday, reaching $4.07. 1,007,982 shares of the company traded hands, compared to its average volume of 5,798,883. The firm has a fifty day simple moving average of $2.04 and a two-hundred day simple moving average of $1.49. Aclaris Therapeutics, Inc. has a one year low of $0.80 and a one year high of $5.17.

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

Insider Transactions at Aclaris Therapeutics

In related news, Director Anand Mehra acquired 666,666 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the purchase, the director now directly owns 710,030 shares of the company's stock, 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 can be accessed through this link. Corporate insiders own 6.40% of the company's stock.

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.