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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 3,560,000 shares, an increase of 12.7% from the December 31st total of 3,160,000 shares. Based on an average trading volume of 2,410,000 shares, the days-to-cover ratio is currently 1.5 days.

Aclaris Therapeutics Stock Up 3.8 %

Shares of Aclaris Therapeutics stock opened at $2.48 on Friday. Aclaris Therapeutics has a 52 week low of $0.95 and a 52 week high of $5.17. The company has a market capitalization of $177.15 million, a PE ratio of -4.77 and a beta of 0.54. The stock’s fifty day moving average is $2.96 and its two-hundred day moving average is $2.02.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. The company had revenue of $4.35 million during the quarter, compared to the consensus estimate of $8.31 million. As a group, research analysts anticipate that Aclaris Therapeutics will post -0.86 earnings per share for the current year.

Insider Buying and Selling

In other Aclaris Therapeutics news, Director Anand Mehra bought 666,666 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was purchased at an average cost 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is owned by company insiders.

Institutional Trading of Aclaris Therapeutics

A number of large investors have recently modified their holdings of ACRS. Point72 Asia Singapore Pte. Ltd. purchased a new position in Aclaris Therapeutics during the 2nd quarter worth $119,000. Assenagon Asset Management S.A. purchased a new position in shares of Aclaris Therapeutics during the third quarter valued at $214,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of 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 acquiring an additional 216,826 shares in the last quarter. Geode Capital Management LLC lifted its stake in Aclaris Therapeutics by 9.3% in the third 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 period. Finally, Peapod Lane Capital LLC bought a new position in Aclaris Therapeutics during the 4th quarter worth about $1,003,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. HC Wainwright upgraded shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Monday, December 23rd. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $3.00 to $13.00 in a report on Monday, November 18th. Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and increased their price target for the company from $2.00 to $7.00 in a report on Tuesday, November 19th. Finally, StockNews.com lowered shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Aclaris Therapeutics currently has an average rating of “Buy” and a consensus target price of $11.00.

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.