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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) saw a significant 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. Based on an average trading volume of 902,300 shares, the short-interest ratio is presently 4.5 days. Approximately 6.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On Aclaris Therapeutics

Institutional investors have recently modified their holdings of the stock. ExodusPoint Capital Management LP acquired a new stake in shares of Aclaris Therapeutics in the 4th quarter valued at approximately $26,000. Invesco Ltd. acquired a new stake in Aclaris Therapeutics in the fourth quarter worth $28,000. Graham Capital Management L.P. bought a new position in shares of Aclaris Therapeutics during the fourth quarter worth $35,000. Commonwealth Equity Services LLC acquired a new position in shares of Aclaris Therapeutics in the 4th quarter valued at $36,000. Finally, Alpine Global Management LLC bought a new stake in shares of Aclaris Therapeutics in the 4th quarter valued at $38,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Aclaris Therapeutics Price Performance

ACRS stock opened at $1.38 on Friday. Aclaris Therapeutics has a twelve month low of $0.95 and a twelve month high of $5.17. The business’s fifty day moving average is $1.49 and its 200-day moving average is $2.23. The company has a market cap of $149.43 million, a P/E ratio of -2.65 and a beta of 0.53.

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.