Renaissance Technologies LLC Sells 520,181 Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Renaissance Technologies LLC reduced its position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 38.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 850,519 shares of the biotechnology company's stock after selling 520,181 shares during the quarter. Renaissance Technologies LLC owned approximately 1.19% of Aclaris Therapeutics worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. ExodusPoint Capital Management LP bought a new stake in Aclaris Therapeutics in the 4th quarter worth approximately $26,000. Invesco Ltd. bought a new position in Aclaris Therapeutics in the 4th quarter valued at approximately $28,000. Commonwealth Equity Services LLC purchased a new stake in shares of Aclaris Therapeutics during the 4th quarter valued at about $36,000. Charles Schwab Investment Management Inc. purchased a new stake in Aclaris Therapeutics during the fourth quarter valued at $82,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Aclaris Therapeutics by 942.0% during the 4th quarter. JPMorgan Chase & Co. now owns 88,320 shares of the biotechnology company's stock worth $219,000 after acquiring an additional 79,844 shares during the last quarter. 98.34% of the stock is owned by institutional investors.

Aclaris Therapeutics Price Performance

NASDAQ ACRS traded down $0.03 during trading hours on Thursday, hitting $1.36. The company had a trading volume of 40,826 shares, compared to its average volume of 1,183,145. The firm's 50 day moving average is $1.51 and its 200 day moving average is $2.23. The company has a market capitalization of $146.72 million, a price-to-earnings ratio of -2.61 and a beta of 0.53. Aclaris Therapeutics, Inc. has a fifty-two week low of $0.95 and a fifty-two week high of $5.17.

Analyst Ratings Changes

ACRS has been the subject of several research analyst reports. StockNews.com cut shares of Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, February 8th. Cantor Fitzgerald began coverage on Aclaris Therapeutics in a research note on Tuesday, March 18th. They set an "overweight" rating on the stock. Finally, Scotiabank initiated coverage on Aclaris Therapeutics in a research report on Friday, March 7th. They set a "sector outperform" rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $11.67.

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.