Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Short Interest Update

Aclaris Therapeutics, Inc. (NASDAQ:ACRSGet Free Report) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 3,160,000 shares, an increase of 27.4% from the November 30th total of 2,480,000 shares. Based on an average daily trading volume, of 2,330,000 shares, the days-to-cover ratio is currently 1.4 days.

Aclaris Therapeutics Stock Performance

Shares of NASDAQ:ACRS opened at $2.48 on Tuesday. The company has a 50 day moving average price of $2.92 and a two-hundred day moving average price of $1.81. The company has a market capitalization of $177.15 million, a PE ratio of -4.77 and a beta of 0.45. Aclaris Therapeutics has a 52 week low of $0.86 and a 52 week high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRSGet Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. The business had revenue of $4.35 million for the quarter, compared to analyst estimates of $8.31 million. On average, sell-side analysts forecast that Aclaris Therapeutics will post -0.75 earnings per share for the current year.

Insider Activity at Aclaris Therapeutics

In other Aclaris Therapeutics news, Director Anand Mehra bought 666,666 shares of Aclaris Therapeutics stock in a transaction dated 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 acquisition, the director now directly owns 710,030 shares of the company’s stock, valued at $1,597,567.50. The trade was a 1,537.37 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ACRS. Leerink Partners raised shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their target price for the company from $3.00 to $13.00 in a research report on Monday, November 18th. Leerink Partnrs raised shares of Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the company from $2.00 to $7.00 in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Aclaris Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $11.00.

View Our Latest Analysis on Aclaris Therapeutics

Aclaris Therapeutics Company Profile

(Get Free Report)

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.

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