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

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,209,886 shares of the biotechnology company’s stock, valued at approximately $6,400,000. Connor Clark & Lunn Investment Management Ltd. owned 0.87% of Aclaris Therapeutics as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new position in Aclaris Therapeutics in the 1st quarter valued at approximately $814,000. Dimensional Fund Advisors LP lifted its position in shares of Aclaris Therapeutics by 88.8% during the first quarter. Dimensional Fund Advisors LP now owns 511,461 shares of the biotechnology company’s stock worth $1,914,000 after acquiring an additional 240,611 shares in the last quarter. Kalehua Capital Management LLC bought a new position in shares of Aclaris Therapeutics in the first quarter worth $6,871,000. Deutsche Bank AG purchased a new position in shares of Aclaris Therapeutics in the second quarter valued at $5,507,000. Finally, Monashee Investment Management LLC purchased a new position in shares of Aclaris Therapeutics in the first quarter valued at $1,875,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Price Performance

Shares of ACRS stock opened at $6.19 on Thursday. Aclaris Therapeutics, Inc. has a 1-year low of $1.74 and a 1-year high of $6.60. The stock has a market capitalization of $865.49 million, a PE ratio of -10.67 and a beta of 0.78. The business 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, topping the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. The company had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.38 million. Analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACRS. Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Wednesday, June 24th. Lifesci Capital assumed coverage on shares of Aclaris Therapeutics in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 target price on the stock. Guggenheim initiated coverage on Aclaris Therapeutics in a research report on Tuesday, May 5th. They set a “buy” rating and a $12.00 price target for the company. Piper Sandler upped their target price on shares of Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $11.50.

Aclaris Therapeutics 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.