Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Sees Large Decrease in Short Interest

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.

Insider Activity at Aclaris Therapeutics

In other Aclaris Therapeutics news, Director Anand Mehra acquired 666,666 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were purchased at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the purchase, the director now owns 710,030 shares in the company, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in Aclaris Therapeutics by 69.5% during the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock worth $41,000 after buying an additional 13,461 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Aclaris Therapeutics by 5,265.1% during the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after acquiring an additional 61,602 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Aclaris Therapeutics by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock worth $6,113,000 after acquiring an additional 207,418 shares in the last quarter. Trium Capital LLP acquired a new stake in shares of Aclaris Therapeutics during the 2nd quarter valued at about $2,081,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aclaris Therapeutics in the second quarter valued at approximately $119,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Aclaris Therapeutics Price Performance

NASDAQ ACRS opened at $3.82 on Thursday. The company has a market cap of $272.86 million, a price-to-earnings ratio of -7.35 and a beta of 0.10. The stock’s fifty day moving average price is $1.93 and its 200 day moving average price is $1.45. Aclaris Therapeutics has a 1 year low of $0.80 and a 1 year high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings data on Wednesday, November 6th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The business had revenue of $4.35 million during the quarter, compared to analyst estimates of $8.31 million. Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. Research analysts expect that Aclaris Therapeutics will post -0.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $3.00 to $13.00 in a report on Monday, November 18th. Cantor Fitzgerald upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 20th. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. Jefferies Financial Group raised shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th. Finally, Leerink Partnrs raised Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.