Aclaris Therapeutics, Inc. (NASDAQ:ACRS – Get Free Report) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 3,160,000 shares, an increase of 27.4% from the November 30th total of 2,480,000 shares. Based on an average trading volume of 2,330,000 shares, the days-to-cover ratio is currently 1.4 days.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the company from $2.00 to $7.00 in a research note on Tuesday, November 19th. Piper Sandler upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating and upped their price target for the company from $3.00 to $13.00 in a research report on Monday, November 18th. Cantor Fitzgerald upgraded shares of Aclaris Therapeutics from a “neutral” rating to an “overweight” rating in a report on Wednesday, November 20th. Leerink Partners raised shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $2.00 to $7.00 in a research note on Tuesday, November 19th. Finally, BTIG Research raised Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Tuesday, November 19th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $11.00.
View Our Latest Stock Report on ACRS
Aclaris Therapeutics Stock Performance
Aclaris Therapeutics (NASDAQ:ACRS – Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $8.31 million. Aclaris Therapeutics had a negative net margin of 136.65% and a negative return on equity of 40.26%. As a group, sell-side analysts anticipate that Aclaris Therapeutics will post -0.75 earnings per share for the current year.
Insider Activity at Aclaris Therapeutics
In other news, Director Anand Mehra bought 666,666 shares of the stock in a transaction on Tuesday, November 19th. The stock was acquired at an average price of $2.25 per share, with a total value of $1,499,998.50. Following the acquisition, the director now directly owns 710,030 shares in the company, valued at approximately $1,597,567.50. This trade represents a 1,537.37 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is currently owned by company insiders.
Institutional Trading of Aclaris Therapeutics
Large investors have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in Aclaris Therapeutics by 187.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,406 shares of the biotechnology company’s stock worth $382,000 after buying an additional 216,826 shares during the period. BML Capital Management LLC increased its holdings in shares of Aclaris Therapeutics by 9.7% during the third quarter. BML Capital Management LLC now owns 14,250,000 shares of the biotechnology company’s stock valued at $16,388,000 after acquiring an additional 1,261,866 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in shares of Aclaris Therapeutics during the second quarter valued at approximately $2,120,000. Trium Capital LLP acquired a new position in shares of Aclaris Therapeutics during the second quarter worth approximately $2,081,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Aclaris Therapeutics in the 3rd quarter worth $1,053,000. 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.
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