Geode Capital Management LLC Reduces Stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Geode Capital Management LLC decreased its holdings in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 789,597 shares of the biotechnology company’s stock after selling 56,849 shares during the quarter. Geode Capital Management LLC owned 1.11% of Aclaris Therapeutics worth $1,959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ACRS. Assenagon Asset Management S.A. raised its stake in shares of Aclaris Therapeutics by 113.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock valued at $985,000 after acquiring an additional 211,585 shares during the last quarter. Peapod Lane Capital LLC bought a new stake in shares of Aclaris Therapeutics in the fourth quarter worth $1,003,000. Raymond James Financial Inc. purchased a new stake in Aclaris Therapeutics during the fourth quarter valued at approximately $383,000. Charles Schwab Investment Management Inc. purchased a new stake in Aclaris Therapeutics in the fourth quarter worth about $82,000. Finally, Commonwealth Equity Services LLC purchased a new position in Aclaris Therapeutics during the fourth quarter valued at approximately $36,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ACRS shares. Scotiabank initiated coverage on shares of Aclaris Therapeutics in a research report on Friday, March 7th. They set a “sector outperform” rating and a $15.00 price objective on the stock. StockNews.com lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. Finally, Cantor Fitzgerald initiated coverage on shares of Aclaris Therapeutics in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Aclaris Therapeutics Price Performance

Shares of NASDAQ ACRS opened at $1.33 on Wednesday. The stock has a market capitalization of $144.01 million, a price-to-earnings ratio of -2.56 and a beta of 0.53. The firm’s 50 day simple moving average is $1.52 and its 200-day simple moving average is $2.24. Aclaris Therapeutics, Inc. has a 12 month low of $0.95 and a 12 month high of $5.17.

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.