Rock Springs Capital Management LP Buys 3,450,814 Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS)

Rock Springs Capital Management LP increased its stake in shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Free Report) by 125.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,204,309 shares of the biotechnology company's stock after acquiring an additional 3,450,814 shares during the quarter. Rock Springs Capital Management LP owned approximately 8.69% of Aclaris Therapeutics worth $15,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Assenagon Asset Management S.A. grew its holdings in shares of Aclaris Therapeutics by 113.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company's stock worth $985,000 after purchasing an additional 211,585 shares during the last quarter. Geode Capital Management LLC grew its holdings in Aclaris Therapeutics by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company's stock worth $974,000 after acquiring an additional 72,309 shares during the last quarter. Peapod Lane Capital LLC purchased a new position in shares of Aclaris Therapeutics in the fourth quarter valued at about $1,003,000. Raymond James Financial Inc. purchased a new stake in shares of Aclaris Therapeutics during the fourth quarter worth about $383,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Aclaris Therapeutics in the fourth quarter worth about $82,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Aclaris Therapeutics Trading Up 6.7 %

ACRS traded up $0.08 during trading on Thursday, reaching $1.27. The stock had a trading volume of 1,008,586 shares, compared to its average volume of 1,193,905. The company has a market capitalization of $137.52 million, a price-to-earnings ratio of -2.44 and a beta of 0.53. The stock's 50 day moving average is $1.60 and its two-hundred day moving average is $2.22. Aclaris Therapeutics, Inc. has a one year low of $0.95 and a one year high of $5.17.

Wall Street Analyst Weigh In

A number of research firms have commented on ACRS. Cantor Fitzgerald initiated coverage on Aclaris Therapeutics in a research report on Tuesday, March 18th. They set an "overweight" rating for the company. Scotiabank started coverage on Aclaris Therapeutics in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $15.00 price target for the company. Finally, StockNews.com downgraded shares of Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, February 8th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.67.

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.