Peapod Lane Capital LLC Invests $1 Million in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Peapod Lane Capital LLC purchased a new position in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 404,452 shares of the biotechnology company’s stock, valued at approximately $1,003,000.

Other hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Aclaris Therapeutics during the 3rd quarter valued at approximately $214,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Aclaris Therapeutics by 187.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock valued at $382,000 after purchasing an additional 216,826 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Aclaris Therapeutics by 9.3% during the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock worth $974,000 after purchasing an additional 72,309 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Aclaris Therapeutics in the 3rd quarter worth about $1,053,000. Finally, Stonepine Capital Management LLC boosted its holdings in shares of Aclaris Therapeutics by 27.6% in the 3rd quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock valued at $2,828,000 after buying an additional 531,427 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Anand Mehra purchased 666,666 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was bought at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the acquisition, the director now directly owns 710,030 shares of the company’s stock, valued at approximately $1,597,567.50. The trade was a 1,537.37 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

ACRS has been the topic of several analyst reports. Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. Leerink Partners raised shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th. HC Wainwright raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Monday, December 23rd. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and raised their price target for the company from $3.00 to $13.00 in a research note on Monday, November 18th. Finally, Cantor Fitzgerald raised Aclaris Therapeutics to a “strong-buy” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $11.00.

Aclaris Therapeutics Stock Down 1.4 %

Shares of NASDAQ:ACRS opened at $2.17 on Thursday. The business has a 50-day moving average of $2.75 and a two-hundred day moving average of $2.08. Aclaris Therapeutics, Inc. has a fifty-two week low of $0.95 and a fifty-two week high of $5.17.

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.