Short Interest in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Declines By 34.8%

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) was the target of a significant decline in short interest in 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 days-to-cover ratio is currently 4.5 days. Currently, 6.1% of the shares of the stock are sold short.

Aclaris Therapeutics Trading Down 11.1 %

Shares of Aclaris Therapeutics stock traded down $0.16 during trading on Monday, reaching $1.28. The company's stock had a trading volume of 383,402 shares, compared to its average volume of 1,182,860. The stock has a 50-day moving average price of $1.46 and a two-hundred day moving average price of $2.25. The stock has a market capitalization of $138.60 million, a P/E ratio of -2.46 and a beta of 0.42. Aclaris Therapeutics has a one year low of $0.95 and a one year high of $5.17.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its position in Aclaris Therapeutics by 113.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 397,362 shares of the biotechnology company's stock worth $985,000 after purchasing an additional 211,585 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Aclaris Therapeutics by 9.3% in the 3rd quarter. Geode Capital Management LLC now owns 846,446 shares of the biotechnology company's stock valued at $974,000 after buying an additional 72,309 shares during the period. Peapod Lane Capital LLC acquired a new stake in shares of Aclaris Therapeutics in the 4th quarter valued at $1,003,000. Marshall Wace LLP bought a new stake in shares of Aclaris Therapeutics during the fourth quarter worth $6,532,000. Finally, JPMorgan Chase & Co. boosted its holdings in Aclaris Therapeutics by 942.0% in the fourth quarter. JPMorgan Chase & Co. now owns 88,320 shares of the biotechnology company's stock valued at $219,000 after acquiring an additional 79,844 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACRS has been the topic of a number of recent research reports. Cantor Fitzgerald began coverage on Aclaris Therapeutics in a report on Tuesday, March 18th. They set an "overweight" rating on the stock. StockNews.com cut Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, February 8th. Finally, Scotiabank initiated coverage on Aclaris Therapeutics in a report on Friday, March 7th. They set a "sector outperform" rating and a $15.00 price objective for the company. One equities research 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. According to MarketBeat.com, Aclaris Therapeutics currently 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.