Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Short Interest Update

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

Wall Street Analyst Weigh In

ACRS has been the subject of several recent analyst reports. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Tuesday, November 19th. Cantor Fitzgerald raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 20th. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $3.00 to $13.00 in a research report on Monday, November 18th. Finally, Leerink Partners raised shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Aclaris Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $8.80.

Aclaris Therapeutics Price Performance

NASDAQ ACRS opened at $3.82 on Thursday. The company has a market cap of $272.86 million, a P/E ratio of -7.35 and a beta of 0.10. The stock has a 50-day moving average of $1.93 and a two-hundred day moving average of $1.45. Aclaris Therapeutics has a 1-year low of $0.80 and a 1-year high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) 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 business had revenue of $4.35 million during the quarter, compared to analysts’ expectations of $8.31 million. On average, analysts anticipate that Aclaris Therapeutics will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Anand Mehra purchased 666,666 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was acquired at an average price of $2.25 per share, with a total value of $1,499,998.50. Following the purchase, the director now directly owns 710,030 shares in the company, valued at approximately $1,597,567.50. This represents a 1,537.37 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in shares of 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 buying an additional 13,461 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Aclaris Therapeutics by 5,265.1% during the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 61,602 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth $119,000. Assenagon Asset Management S.A. acquired a new position in shares of Aclaris Therapeutics during the third quarter worth $214,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 buying an additional 216,826 shares during the last quarter. Institutional investors and hedge funds own 98.34% 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.