Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Short Interest Update

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 3,560,000 shares, an increase of 12.7% from the December 31st total of 3,160,000 shares. Based on an average daily volume of 2,410,000 shares, the short-interest ratio is presently 1.5 days.

Aclaris Therapeutics Stock Performance

NASDAQ ACRS traded up $0.11 during trading hours on Tuesday, reaching $2.51. 703,507 shares of the company's stock were exchanged, compared to its average volume of 928,219. The company has a market capitalization of $179.29 million, a price-to-earnings ratio of -4.83 and a beta of 0.50. The company's 50-day moving average is $2.92 and its two-hundred day moving average is $2.04. Aclaris Therapeutics has a one year low of $0.95 and a one year high of $5.17.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued 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). Aclaris Therapeutics had a negative return on equity of 40.26% and a negative net margin of 136.65%. The company had revenue of $4.35 million for the quarter, compared to the consensus estimate of $8.31 million. Research analysts predict that Aclaris Therapeutics will post -0.86 earnings per share for the current fiscal year.

Insider Activity at Aclaris Therapeutics

In other Aclaris Therapeutics news, Director Anand Mehra bought 666,666 shares of the stock in a transaction on Tuesday, November 19th. The stock was purchased at an average price of $2.25 per share, with a total value of $1,499,998.50. Following the acquisition, the director now owns 710,030 shares of the company's stock, valued at approximately $1,597,567.50. The trade was a 1,537.37 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Trium Capital LLP boosted its position in shares of Aclaris Therapeutics by 1.1% during the third quarter. Trium Capital LLP now owns 1,912,990 shares of the biotechnology company's stock worth $2,200,000 after buying an additional 20,940 shares during the period. Millennium Management LLC lifted its stake in Aclaris Therapeutics by 1.9% in the 2nd quarter. Millennium Management LLC now owns 3,336,850 shares of the biotechnology company's stock valued at $3,671,000 after acquiring an additional 63,358 shares in the last quarter. Geode Capital Management LLC boosted its position in Aclaris Therapeutics by 9.3% during the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company's stock worth $974,000 after acquiring an additional 72,309 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $119,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Aclaris Therapeutics in the third quarter valued at approximately $214,000. Institutional investors own 98.34% of the company's stock.

Analyst Upgrades and Downgrades

ACRS has been the subject of a number of analyst reports. Leerink Partnrs raised Aclaris Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, November 19th. Leerink Partners upgraded 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 research report on Tuesday, November 19th. Piper Sandler upgraded shares of Aclaris Therapeutics from a "neutral" rating to an "overweight" rating and increased their price target for the company from $3.00 to $13.00 in a research report on Monday, November 18th. BTIG Research raised shares of Aclaris Therapeutics from a "neutral" rating to a "buy" rating and set a $8.00 price objective on the stock in a research note on Tuesday, November 19th. Finally, Cantor Fitzgerald raised shares of Aclaris Therapeutics to a "strong-buy" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $11.00.

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.