Short Interest in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Grows By 73.4%

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,410,000 shares, an increase of 73.4% from the October 15th total of 1,390,000 shares. Based on an average daily trading volume, of 525,700 shares, the days-to-cover ratio is currently 4.6 days.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of large investors have recently modified their holdings of the business. Stonepine Capital Management LLC purchased a new stake in shares of Aclaris Therapeutics in the second quarter valued at approximately $2,120,000. Trium Capital LLP purchased a new stake in shares of Aclaris Therapeutics during the 2nd quarter worth $2,081,000. BML Capital Management LLC grew its stake in shares of Aclaris Therapeutics by 9.7% during the 3rd 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 period. 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 valued at $382,000 after purchasing an additional 216,826 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Aclaris Therapeutics by 4.4% in the first quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock valued at $6,113,000 after purchasing an additional 207,418 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ACRS. StockNews.com cut shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, Aclaris Therapeutics presently has an average rating of “Hold” and a consensus target price of $9.00.

Aclaris Therapeutics Price Performance

NASDAQ:ACRS opened at $2.56 on Wednesday. The firm has a market cap of $182.86 million, a price-to-earnings ratio of -4.69 and a beta of 0.10. Aclaris Therapeutics has a 1-year low of $0.59 and a 1-year high of $2.68. The firm’s fifty day moving average price is $1.40 and its 200 day moving average price is $1.27.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.03). The firm had revenue of $4.35 million during the quarter, compared to analysts’ expectations of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. As a group, analysts expect that Aclaris Therapeutics will post -0.67 earnings per share for the current fiscal year.

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.