Bridgeway Capital Management LLC Grows Position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Bridgeway Capital Management LLC lifted its position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 41.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 281,119 shares of the biotechnology company’s stock after purchasing an additional 82,000 shares during the period. Bridgeway Capital Management LLC owned about 0.39% of Aclaris Therapeutics worth $697,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. purchased a new stake in Aclaris Therapeutics during the 4th quarter valued at $23,876,000. Vivo Capital LLC bought a new position in shares of Aclaris Therapeutics during the fourth quarter valued at about $22,044,000. Rock Springs Capital Management LP boosted its holdings in shares of 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 purchasing an additional 3,450,814 shares during the period. RA Capital Management L.P. bought a new stake in shares of Aclaris Therapeutics in the fourth quarter worth about $11,573,000. Finally, Marshall Wace LLP bought a new stake in shares of Aclaris Therapeutics in the fourth quarter worth about $6,532,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACRS has been the subject of a number of recent analyst reports. Cantor Fitzgerald assumed coverage on Aclaris Therapeutics in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. StockNews.com cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 8th. Finally, Scotiabank dropped their price target on Aclaris Therapeutics from $15.00 to $9.00 and set a “sector outperform” rating for the company in a research note on Friday. One research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.

Aclaris Therapeutics Stock Performance

ACRS stock opened at $1.26 on Monday. Aclaris Therapeutics, Inc. has a fifty-two week low of $0.95 and a fifty-two week high of $5.17. The company has a market capitalization of $136.43 million, a price-to-earnings ratio of -2.42 and a beta of 0.42. The business’s 50 day moving average price is $1.41 and its two-hundred day moving average price is $2.25.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.07. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. Sell-side analysts forecast that Aclaris Therapeutics, Inc. will post -0.82 earnings per share for the current year.

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.