Short Interest in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Drops By 35.3%

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 1,560,000 shares, a decline of 35.3% from the October 31st total of 2,410,000 shares. Based on an average trading volume of 2,110,000 shares, the days-to-cover ratio is presently 0.7 days.

Aclaris Therapeutics Price Performance

Shares of NASDAQ ACRS opened at $4.07 on Friday. Aclaris Therapeutics has a 1 year low of $0.80 and a 1 year high of $5.17. The company has a market capitalization of $290.72 million, a price-to-earnings ratio of -7.83 and a beta of 0.10. The business has a 50-day moving average of $2.04 and a two-hundred day moving average of $1.49.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. The company had revenue of $4.35 million during the quarter, compared to analyst estimates of $8.31 million. As a group, equities research analysts expect that Aclaris Therapeutics will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Anand Mehra purchased 666,666 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average price of $2.25 per share, with a total value of $1,499,998.50. Following the completion of the acquisition, the director now owns 710,030 shares in the company, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 6.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACRS. SG Americas Securities LLC raised its position in Aclaris Therapeutics by 69.5% in the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 13,461 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Aclaris Therapeutics by 5,265.1% in the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after purchasing an additional 61,602 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aclaris Therapeutics during the second quarter worth approximately $119,000. Assenagon Asset Management S.A. acquired a new stake in shares of Aclaris Therapeutics during the third quarter worth $214,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Aclaris Therapeutics by 187.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock valued at $382,000 after buying 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

ACRS has been the subject of a number of recent analyst reports. Leerink Partnrs upgraded shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their price target for the company from $3.00 to $13.00 in a research note on Monday, November 18th. Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $2.00 to $7.00 in a report on Tuesday, November 19th. StockNews.com raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, BTIG Research upgraded shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.80.

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.