Short Interest in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Increases By 26.7%

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 6,030,000 shares, a growth of 26.7% from the February 28th total of 4,760,000 shares. Based on an average daily volume of 933,400 shares, the days-to-cover ratio is presently 6.5 days. Currently, 9.0% of the company’s shares are sold short.

Institutional Trading of Aclaris Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its position in shares of Aclaris Therapeutics by 113.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company’s stock worth $985,000 after buying an additional 211,585 shares during the period. Geode Capital Management LLC boosted its holdings in Aclaris Therapeutics by 9.3% in 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 period. Jacobs Levy Equity Management Inc. acquired a new stake in Aclaris Therapeutics in the third quarter valued at approximately $1,053,000. Peapod Lane Capital LLC purchased a new stake in shares of Aclaris Therapeutics during the fourth quarter valued at approximately $1,003,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Aclaris Therapeutics by 173.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 908,819 shares of the biotechnology company’s stock worth $2,254,000 after purchasing an additional 576,413 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Aclaris Therapeutics Stock Down 3.3 %

Aclaris Therapeutics stock opened at $1.48 on Wednesday. The firm has a fifty day moving average of $2.03 and a 200-day moving average of $2.24. Aclaris Therapeutics has a 52-week low of $0.95 and a 52-week high of $5.17. The firm has a market capitalization of $159.72 million, a P/E ratio of -2.85 and a beta of 0.48.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Scotiabank began coverage on Aclaris Therapeutics in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $15.00 price target on the stock. Cantor Fitzgerald initiated coverage on shares of Aclaris Therapeutics in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. HC Wainwright raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, December 23rd. Finally, StockNews.com lowered shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.67.

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.