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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 2,410,000 shares, a growth of 73.4% from the October 15th total of 1,390,000 shares. Based on an average daily trading volume, of 525,700 shares, the days-to-cover ratio is presently 4.6 days.

Aclaris Therapeutics Stock Down 3.5 %

NASDAQ ACRS traded down $0.09 during mid-day trading on Wednesday, hitting $2.47. The stock had a trading volume of 448,452 shares, compared to its average volume of 997,323. The firm's 50 day moving average is $1.43 and its 200 day moving average is $1.28. Aclaris Therapeutics has a twelve month low of $0.63 and a twelve month high of $2.72.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued its earnings results on Wednesday, November 6th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.03). Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. The business had revenue of $4.35 million during the quarter, compared to analyst estimates of $8.31 million. Research analysts anticipate that Aclaris Therapeutics will post -0.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ACRS. StockNews.com cut shares of Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. HC Wainwright restated a "neutral" rating on shares of Aclaris Therapeutics in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of "Hold" and an average price target of $9.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACRS. Mirae Asset Global Investments Co. Ltd. purchased a new position in Aclaris Therapeutics during the first quarter worth approximately $39,000. SG Americas Securities LLC raised its holdings in shares of Aclaris Therapeutics by 69.5% during the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company's stock worth $41,000 after acquiring an additional 13,461 shares during the period. Russell Investments Group Ltd. boosted its position 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 valued at $78,000 after acquiring an additional 61,602 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Aclaris Therapeutics in the second quarter valued at about $119,000. Finally, Assenagon Asset Management S.A. acquired a new stake in Aclaris Therapeutics during the third quarter worth about $214,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.