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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) was the recipient of a significant decline in short interest in the month of 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 short-interest ratio is presently 0.7 days.

Aclaris Therapeutics Stock Performance

Shares of NASDAQ:ACRS traded up $0.19 during trading on Thursday, hitting $3.82. The company's stock had a trading volume of 845,525 shares, compared to its average volume of 1,416,032. The company has a market capitalization of $272.86 million, a PE ratio of -7.35 and a beta of 0.10. Aclaris Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $5.17. The stock's 50-day moving average price is $1.93 and its two-hundred day moving average price is $1.45.

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

Insider Buying and Selling at Aclaris Therapeutics

In other news, Director Anand Mehra acquired 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 purchase, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.40% of the stock is owned by company insiders.

Institutional Trading of Aclaris Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of 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 purchasing an additional 13,461 shares during the last quarter. Russell Investments Group Ltd. raised its stake 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 valued at $78,000 after buying an additional 61,602 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Aclaris Therapeutics during the 2nd quarter worth approximately $119,000. Assenagon Asset Management S.A. acquired a new position in shares of Aclaris Therapeutics in the 3rd quarter worth approximately $214,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Aclaris Therapeutics by 187.6% in 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 during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACRS has been the subject of several research reports. BTIG Research upgraded shares of 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. Jefferies Financial Group raised shares of Aclaris Therapeutics from a "hold" rating to a "buy" rating and upped their price target for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. Leerink Partners raised Aclaris Therapeutics from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $2.00 to $7.00 in a research report on Tuesday, November 19th. StockNews.com raised Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Finally, HC Wainwright reiterated a "neutral" rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. Two equities research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $8.80.

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.