Adage Capital Partners GP L.L.C. Takes $23.88 Million Position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Adage Capital Partners GP L.L.C. purchased a new position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,627,304 shares of the biotechnology company's stock, valued at approximately $23,876,000. Adage Capital Partners GP L.L.C. owned about 13.48% of Aclaris Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of ACRS. Vivo Capital LLC bought a new stake in Aclaris Therapeutics in the fourth quarter worth $22,044,000. Rock Springs Capital Management LP boosted its stake in Aclaris Therapeutics by 125.3% during the fourth quarter. Rock Springs Capital Management LP now owns 6,204,309 shares of the biotechnology company's stock worth $15,387,000 after buying an additional 3,450,814 shares during the period. Marshall Wace LLP purchased a new position in Aclaris Therapeutics during the fourth quarter worth $6,532,000. Walleye Capital LLC purchased a new position in Aclaris Therapeutics during the fourth quarter worth $1,783,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Aclaris Therapeutics by 173.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,819 shares of the biotechnology company's stock worth $2,254,000 after buying an additional 576,413 shares during the period. Institutional investors own 98.34% of the company's stock.

Aclaris Therapeutics Trading Down 0.4 %

Shares of NASDAQ ACRS traded down $0.01 during midday trading on Thursday, reaching $1.38. The company had a trading volume of 124,468 shares, compared to its average volume of 1,183,448. The business's 50-day simple moving average is $1.51 and its 200 day simple moving average is $2.23. The stock has a market cap of $148.89 million, a P/E ratio of -2.64 and a beta of 0.53. Aclaris Therapeutics, Inc. has a 1 year low of $0.95 and a 1 year high of $5.17.

Analyst Upgrades and Downgrades

Several research firms have commented on ACRS. StockNews.com lowered shares of Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, February 8th. Cantor Fitzgerald assumed coverage on shares of Aclaris Therapeutics in a research note on Tuesday, March 18th. They set an "overweight" rating for the company. Finally, Scotiabank assumed coverage on shares of 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. 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.67.

Aclaris Therapeutics Company 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.