Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Short Interest Down 35.3% in November

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 1,560,000 shares, a decline of 35.3% from the October 31st total of 2,410,000 shares. Based on an average trading volume of 2,110,000 shares, the days-to-cover ratio is currently 0.7 days.

Aclaris Therapeutics Stock Performance

Aclaris Therapeutics stock opened at $3.82 on Friday. Aclaris Therapeutics has a 52-week low of $0.80 and a 52-week high of $5.17. The stock’s 50 day moving average price is $1.98 and its two-hundred day moving average price is $1.47. The stock has a market capitalization of $272.86 million, a price-to-earnings ratio of -7.35 and a beta of 0.10.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.35 million during the quarter, compared to the consensus estimate of $8.31 million. On average, equities research analysts forecast that Aclaris Therapeutics will post -0.75 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “neutral” rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Tuesday, November 19th. Cantor Fitzgerald raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Wednesday, November 20th. 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, Piper Sandler raised shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and increased their target price for the company from $3.00 to $13.00 in a research report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Aclaris Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $8.80.

Insiders Place Their Bets

In other news, Director Anand Mehra acquired 666,666 shares of the stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price 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 of the company’s stock, valued at $1,597,567.50. This represents a 1,537.37 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of 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 in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Aclaris Therapeutics during the 3rd quarter valued at $1,053,000. Stonepine Capital Management LLC lifted its stake in Aclaris Therapeutics by 27.6% during the 3rd quarter. Stonepine Capital Management LLC now owns 2,458,873 shares of the biotechnology company’s stock valued at $2,828,000 after acquiring an additional 531,427 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Aclaris Therapeutics by 187.6% during 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 acquiring an additional 216,826 shares in the last quarter. Finally, BML Capital Management LLC lifted its stake in 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 valued at $16,388,000 after acquiring an additional 1,261,866 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

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.