Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Short Interest Up 15.6% in January

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,920,000 shares, an increase of 15.6% from the January 15th total of 3,390,000 shares. Based on an average daily volume of 2,400,000 shares, the short-interest ratio is presently 1.6 days.

Aclaris Therapeutics Price Performance

ACRS opened at $2.33 on Friday. The firm has a market cap of $166.43 million, a PE ratio of -4.48 and a beta of 0.50. The stock has a 50-day moving average price of $2.66 and a 200-day moving average price of $2.10. Aclaris Therapeutics has a 1 year low of $0.95 and a 1 year high of $5.17.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ACRS shares. StockNews.com lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. Piper Sandler upgraded Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $3.00 to $13.00 in a report on Monday, November 18th. Cantor Fitzgerald raised Aclaris Therapeutics to a “strong-buy” rating in a research report on Thursday, January 30th. Leerink Partnrs raised shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Finally, HC Wainwright raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $11.00.

Insider Transactions at Aclaris Therapeutics

In related news, Director Anand Mehra purchased 666,666 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of $2.25 per share, with a total value of $1,499,998.50. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 6.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in shares of Aclaris Therapeutics by 113.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock valued at $985,000 after acquiring an additional 211,585 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of 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. BML Capital Management LLC raised its stake in shares of Aclaris Therapeutics by 9.7% in the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock worth $16,388,000 after purchasing an additional 1,261,866 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Aclaris Therapeutics by 9.3% during the third 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Aclaris Therapeutics during the third quarter valued at $1,053,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

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.