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

Peapod Lane Capital LLC bought a new stake in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 404,452 shares of the biotechnology company’s stock, valued at approximately $1,003,000. Peapod Lane Capital LLC owned 0.57% of Aclaris Therapeutics at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted 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 worth $985,000 after buying an additional 211,585 shares during the period. Geode Capital Management LLC raised its stake in Aclaris Therapeutics by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after acquiring an additional 72,309 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Aclaris Therapeutics during the 3rd quarter worth approximately $1,053,000. Stonepine Capital Management LLC grew its stake 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 purchasing an additional 531,427 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Aclaris Therapeutics by 187.6% in 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 period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ACRS. BTIG Research upgraded shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Tuesday, November 19th. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Piper Sandler raised 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 report on Monday, November 18th. Cantor Fitzgerald upgraded Aclaris Therapeutics to a “strong-buy” rating in a research note on Thursday, January 30th. Finally, HC Wainwright upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, December 23rd. One 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.com, the company presently has a consensus rating of “Buy” and a consensus target price of $11.00.

Aclaris Therapeutics Price Performance

Shares of ACRS stock opened at $2.17 on Thursday. The company’s fifty day simple moving average is $2.75 and its 200-day simple moving average is $2.08. Aclaris Therapeutics, Inc. has a 52 week low of $0.95 and a 52 week high of $5.17.

Insider Activity

In other news, Director Anand Mehra bought 666,666 shares of Aclaris Therapeutics stock in a transaction dated Tuesday, November 19th. The shares were acquired at an average cost of $2.25 per share, with a total value of $1,499,998.50. Following the completion of the transaction, the director now owns 710,030 shares in the company, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.40% of the company’s stock.

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.