Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Short Interest Down 34.8% in April

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 4,070,000 shares, a decline of 34.8% from the March 31st total of 6,240,000 shares. Approximately 6.1% of the company’s stock are sold short. Based on an average daily volume of 902,300 shares, the short-interest ratio is currently 4.5 days.

Aclaris Therapeutics Trading Down 2.2 %

Shares of Aclaris Therapeutics stock opened at $1.33 on Wednesday. The company has a 50-day moving average of $1.52 and a two-hundred day moving average of $2.24. Aclaris Therapeutics has a 12-month low of $0.95 and a 12-month high of $5.17. The stock has a market cap of $144.01 million, a PE ratio of -2.56 and a beta of 0.53.

Wall Street Analyst Weigh In

ACRS has been the subject of a number of research reports. StockNews.com cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 8th. Cantor Fitzgerald initiated coverage on shares of Aclaris Therapeutics in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Finally, Scotiabank started coverage on shares of Aclaris Therapeutics in a research note on Friday, March 7th. They set a “sector outperform” rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Aclaris Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently bought and sold shares of ACRS. ExodusPoint Capital Management LP purchased a new position in shares of Aclaris Therapeutics in the fourth quarter valued at $26,000. Invesco Ltd. purchased a new position in Aclaris Therapeutics during the 4th quarter valued at about $28,000. Graham Capital Management L.P. acquired a new position in Aclaris Therapeutics during the fourth quarter worth about $35,000. Commonwealth Equity Services LLC purchased a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at about $36,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $38,000. 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.