Monashee Investment Management LLC Acquires New Holdings in Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Monashee Investment Management LLC bought a new position in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 888,888 shares of the biotechnology company's stock, valued at approximately $2,204,000. Aclaris Therapeutics accounts for about 0.3% of Monashee Investment Management LLC's investment portfolio, making the stock its 25th largest holding. Monashee Investment Management LLC owned approximately 1.24% of Aclaris Therapeutics at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ACRS. ExodusPoint Capital Management LP acquired a new stake in Aclaris Therapeutics during the 4th quarter worth about $26,000. Invesco Ltd. acquired a new position in Aclaris Therapeutics in the 4th quarter worth approximately $28,000. Commonwealth Equity Services LLC acquired a new stake in Aclaris Therapeutics during the 4th quarter valued at $36,000. Alpine Global Management LLC purchased a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at $38,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter worth $82,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Aclaris Therapeutics Stock Down 7.3 %

ACRS stock traded down $0.11 during trading hours on Monday, hitting $1.34. The company's stock had a trading volume of 148,861 shares, compared to its average volume of 1,181,949. The stock has a 50 day moving average price of $1.48 and a two-hundred day moving average price of $2.25. Aclaris Therapeutics, Inc. has a 12 month low of $0.95 and a 12 month high of $5.17. The company has a market capitalization of $144.56 million, a PE ratio of -2.57 and a beta of 0.42.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ACRS shares. Cantor Fitzgerald assumed coverage on Aclaris Therapeutics in a research note on Tuesday, March 18th. They issued an "overweight" rating for the company. StockNews.com cut shares of Aclaris Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, February 8th. Finally, Scotiabank began coverage on shares of Aclaris Therapeutics in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $15.00 price objective on the stock. One equities research 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $11.67.

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.