Aldebaran Capital LLC Cuts Stock Position in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Aldebaran Capital LLC cut its holdings in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) by 2.5% in the 4th quarter, HoldingsChannel reports. The firm owned 1,016,958 shares of the biotechnology company’s stock after selling 26,194 shares during the quarter. Aclaris Therapeutics accounts for approximately 2.4% of Aldebaran Capital LLC’s investment portfolio, making the stock its 13th biggest holding. Aldebaran Capital LLC’s holdings in Aclaris Therapeutics were worth $2,522,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ACRS. Jacobs Levy Equity Management Inc. bought a new stake in shares of Aclaris Therapeutics in the 3rd quarter worth approximately $1,053,000. Geode Capital Management LLC raised its stake in shares of Aclaris Therapeutics by 9.3% in the third quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after buying an additional 72,309 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Aclaris Therapeutics by 113.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock valued at $985,000 after buying an additional 211,585 shares during the last quarter. Peapod Lane Capital LLC purchased a new stake in Aclaris Therapeutics in the 4th quarter worth about $1,003,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Aclaris Therapeutics in the 4th quarter worth about $82,000. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ACRS. Cantor Fitzgerald initiated coverage on shares of Aclaris Therapeutics in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. HC Wainwright raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Monday, December 23rd. Scotiabank started 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. Finally, StockNews.com cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company 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 $1.49 on Friday. The firm has a fifty day moving average price of $1.99 and a two-hundred day moving average price of $2.23. The company has a market cap of $160.80 million, a price-to-earnings ratio of -2.87 and a beta of 0.53. Aclaris Therapeutics, Inc. has a one year low of $0.95 and a one year high of $5.17.

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.