Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Sees Large Growth in Short Interest

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 3,560,000 shares, an increase of 12.7% from the December 15th 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 2.4 %

Shares of NASDAQ ACRS opened at $2.57 on Monday. Aclaris Therapeutics has a twelve month low of $0.95 and a twelve month high of $5.17. The firm has a market cap of $183.58 million, a P/E ratio of -4.94 and a beta of 0.54. The company has a 50 day moving average of $3.09 and a 200 day moving average of $1.94.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.35 million during the quarter, compared to the consensus estimate of $8.31 million. As a group, equities analysts expect that Aclaris Therapeutics will post -0.81 earnings per share 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 that occurred on Tuesday, November 19th. The shares were acquired at an average cost of $2.25 per share, with a total value of $1,499,998.50. Following the purchase, the director now owns 710,030 shares in the company, valued at $1,597,567.50. This represents a 1,537.37 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Trium Capital LLP boosted its stake in shares of Aclaris Therapeutics by 1.1% in the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company’s stock worth $2,200,000 after acquiring an additional 20,940 shares during the period. Millennium Management LLC grew its holdings in shares of Aclaris Therapeutics by 1.9% in the second quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company’s stock valued at $3,671,000 after purchasing an additional 63,358 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Aclaris Therapeutics by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after acquiring an additional 72,309 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Aclaris Therapeutics in the 2nd quarter worth approximately $119,000. Finally, Assenagon Asset Management S.A. bought a new position in Aclaris Therapeutics during the third quarter valued at $214,000. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ACRS has been the subject of a number of recent analyst reports. Leerink Partnrs raised shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Leerink Partners upgraded shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. Cantor Fitzgerald raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 20th. Piper Sandler raised Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $3.00 to $13.00 in a research note on Monday, November 18th. Finally, BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Aclaris Therapeutics currently has an average rating of “Buy” and an average price target of $11.00.

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.