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

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ACRS shares. Cantor Fitzgerald upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 20th. 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. Leerink Partners upgraded shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th. BTIG Research upgraded shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Tuesday, November 19th. Finally, StockNews.com upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Aclaris Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $8.80.

Aclaris Therapeutics Price Performance

NASDAQ:ACRS opened at $3.82 on Friday. Aclaris Therapeutics has a one year low of $0.80 and a one year high of $5.17. The company has a market cap of $272.86 million, a P/E ratio of -7.35 and a beta of 0.10. The firm’s fifty day moving average price is $1.98 and its two-hundred day moving average price is $1.47.

Aclaris Therapeutics (NASDAQ:ACRS) last announced 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). The business had revenue of $4.35 million during the quarter, compared to the consensus estimate 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, equities research analysts expect that Aclaris Therapeutics will post -0.75 earnings per share for the current year.

Insider Activity

In other Aclaris Therapeutics news, Director Anand Mehra acquired 666,666 shares of the stock in a transaction dated Tuesday, November 19th. The shares were bought at an average cost of $2.25 per share, for a total transaction of $1,499,998.50. Following the completion of the acquisition, the director now directly owns 710,030 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of institutional investors have recently modified their holdings of ACRS. SG Americas Securities LLC boosted its position in shares of Aclaris Therapeutics by 69.5% in the first quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 13,461 shares during the period. Russell Investments Group Ltd. lifted its position in Aclaris Therapeutics by 5,265.1% during the first quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 61,602 shares during the period. Vanguard Group Inc. lifted its position in Aclaris Therapeutics by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock worth $6,113,000 after purchasing an additional 207,418 shares during the period. Trium Capital LLP bought a new stake in Aclaris Therapeutics during the second quarter worth about $2,081,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Aclaris Therapeutics during the second quarter worth about $119,000. Institutional investors own 98.34% of the company’s stock.

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.