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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 7,017,767 shares, a growth of 49.4% from the March 15th total of 4,697,214 shares. Approximately 6.2% of the shares of the stock are sold short. Based on an average trading volume of 1,880,039 shares, the days-to-cover ratio is presently 3.7 days.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday. Wedbush reaffirmed an “outperform” rating and set a $8.00 price objective on shares of Aclaris Therapeutics in a research note on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Friday, March 27th. Craig Hallum assumed coverage on shares of Aclaris Therapeutics in a report on Friday, January 30th. They issued a “buy” rating and a $10.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.80.

Institutional Investors Weigh In On Aclaris Therapeutics

Several hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its holdings in Aclaris Therapeutics by 409.0% during the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock worth $87,000 after buying an additional 45,864 shares during the period. Millennium Management LLC raised its position in shares of Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock worth $6,325,000 after acquiring an additional 2,175,101 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Aclaris Therapeutics by 29.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock worth $851,000 after acquiring an additional 127,366 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Aclaris Therapeutics by 108.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after purchasing an additional 1,282,042 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Aclaris Therapeutics by 25.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 623,792 shares of the biotechnology company’s stock worth $886,000 after purchasing an additional 125,071 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Aclaris Therapeutics Trading Up 0.5%

Shares of ACRS opened at $3.92 on Wednesday. The firm has a fifty day moving average price of $3.53 and a 200-day moving average price of $3.00. The firm has a market capitalization of $472.75 million, a P/E ratio of -7.40 and a beta of 0.67. Aclaris Therapeutics has a 12-month low of $1.08 and a 12-month high of $4.89.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The company had revenue of $1.30 million for the quarter, compared to the consensus estimate of $2.07 million. Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. Analysts predict that Aclaris Therapeutics will post -0.82 earnings per share for the current year.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc (NASDAQ:ACRS) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing novel small‐molecule therapies for dermatologic diseases and related rare disorders. The company’s pipeline includes several product candidates designed to address chronic inflammatory skin conditions and non‐melanoma skin lesions. Lead programs include ATI‐50002, a topical agent in late‐stage development for molluscum contagiosum removal; ATI‐50003 for common wart resolution; ATI‐1501, an oral JAK1/2 inhibitor targeting pruritic disorders; and ATI‐450, an oral MK2 inhibitor for inflammatory indications.

Founded in 2016 and headquartered in Malvern, Pennsylvania, Aclaris leverages proprietary chemistry platforms and translational research capabilities to advance multiple clinical and preclinical candidates.