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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,390,000 shares, a decrease of 19.7% from the September 30th total of 1,730,000 shares. Based on an average daily volume of 339,700 shares, the short-interest ratio is presently 4.1 days.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds have recently modified their holdings of ACRS. Stonepine Capital Management LLC acquired a new position in Aclaris Therapeutics in the 2nd quarter valued at about $2,120,000. Trium Capital LLP acquired a new position in shares of Aclaris Therapeutics in the second quarter valued at approximately $2,081,000. Russell Investments Group Ltd. increased its stake in shares of Aclaris Therapeutics by 5,265.1% during the first 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 period. BNP Paribas Financial Markets lifted its holdings in Aclaris Therapeutics by 10.9% during the 1st quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock worth $299,000 after purchasing an additional 23,747 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Aclaris Therapeutics by 1.9% in the 2nd 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 during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. HC Wainwright reaffirmed a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. StockNews.com upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.00.

Aclaris Therapeutics Stock Up 6.2 %

Shares of NASDAQ ACRS opened at $1.71 on Wednesday. The business’s 50 day moving average price is $1.21 and its two-hundred day moving average price is $1.21. The company has a market cap of $121.86 million, a PE ratio of -1.57 and a beta of 0.20. Aclaris Therapeutics has a twelve month low of $0.59 and a twelve month high of $5.71.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. Aclaris Therapeutics had a negative return on equity of 53.18% and a negative net margin of 183.28%. The business had revenue of $2.77 million for the quarter, compared to analysts’ expectations of $1.74 million. As a group, research analysts anticipate that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

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.