Short Interest in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Increases By 59.0%

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 2,480,000 shares, an increase of 59.0% from the November 15th total of 1,560,000 shares. Based on an average daily volume of 2,210,000 shares, the short-interest ratio is presently 1.1 days.

Aclaris Therapeutics Stock Down 1.5 %

Shares of Aclaris Therapeutics stock opened at $3.22 on Friday. The company has a market cap of $230.00 million, a PE ratio of -6.29 and a beta of 0.45. The business has a 50 day moving average of $2.50 and a 200 day moving average of $1.65. Aclaris Therapeutics has a 52 week low of $0.80 and a 52 week high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $8.31 million. On average, research analysts anticipate that Aclaris Therapeutics will post -0.75 earnings per share for the current year.

Insider Activity

In other news, Director Anand Mehra bought 666,666 shares of the stock in a transaction on Tuesday, November 19th. The shares were acquired at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the purchase, the director now directly owns 710,030 shares of the company’s stock, valued at $1,597,567.50. This trade represents a 1,537.37 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.40% of the company’s stock.

Institutional Trading of Aclaris Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aclaris Therapeutics in the 2nd quarter worth approximately $119,000. Assenagon Asset Management S.A. purchased a new position in shares of Aclaris Therapeutics in the 3rd quarter worth about $214,000. Connor Clark & Lunn Investment Management Ltd. boosted 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 worth $382,000 after purchasing an additional 216,826 shares in the last quarter. Geode Capital Management LLC grew its position in Aclaris Therapeutics by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company’s stock valued at $974,000 after purchasing an additional 72,309 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Aclaris Therapeutics during the 3rd quarter valued at about $1,053,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. BTIG Research upgraded shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Tuesday, November 19th. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Finally, 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. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Aclaris Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $8.80.

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.