Assenagon Asset Management S.A. Raises Stock Position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Assenagon Asset Management S.A. increased its position in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 71.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 681,553 shares of the biotechnology company's stock after buying an additional 284,191 shares during the period. Assenagon Asset Management S.A. owned 0.63% of Aclaris Therapeutics worth $1,043,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP acquired a new position in shares of Aclaris Therapeutics in the fourth quarter worth about $26,000. Invesco Ltd. purchased a new position in shares of Aclaris Therapeutics in the 4th quarter valued at about $28,000. Graham Capital Management L.P. purchased a new position in shares of Aclaris Therapeutics in the 4th quarter valued at about $35,000. Commonwealth Equity Services LLC acquired a new position in Aclaris Therapeutics in the 4th quarter worth about $36,000. Finally, Alpine Global Management LLC purchased a new position in Aclaris Therapeutics during the fourth quarter worth approximately $38,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on ACRS shares. Cantor Fitzgerald initiated coverage on Aclaris Therapeutics in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Wedbush assumed coverage on shares of Aclaris Therapeutics in a research note on Wednesday, May 28th. They issued an "outperform" rating and a $8.00 price target on the stock. Scotiabank cut their price target on shares of Aclaris Therapeutics from $15.00 to $9.00 and set a "sector outperform" rating for the company in a report on Friday, May 9th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $16.00 price objective (down from $20.00) on shares of Aclaris Therapeutics in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.71.

Aclaris Therapeutics Price Performance

ACRS traded up $0.03 on Friday, reaching $1.45. 887,057 shares of the company's stock were exchanged, compared to its average volume of 1,199,229. The stock has a market cap of $157.01 million, a PE ratio of -1.04 and a beta of 0.41. Aclaris Therapeutics, Inc. has a twelve month low of $1.05 and a twelve month high of $5.17. The stock's fifty day moving average price is $1.34 and its 200-day moving average price is $1.93.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last released its earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.07. Aclaris Therapeutics had a negative net margin of 732.42% and a negative return on equity of 30.73%. As a group, research analysts predict that Aclaris Therapeutics, Inc. will post -0.82 earnings per share for the current fiscal 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.