Short Interest in Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Increases By 49.4%

Key Points

• Short interest jumped 49.4% in March to 7,017,767 shares (about 6.2% sold short), producing a short-interest ratio of 3.7 days based on average volume.
• Analyst sentiment is mixed but leans positive with an average rating of "Moderate Buy" and an average price target of $9.80, while individual firms range from sell to buy.
• Shares opened at $3.90 (down 3.5%); the company missed quarterly EPS and revenue expectations, has deeply negative margins, and analysts forecast a -0.82 EPS for the year.

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 7,017,767 shares, an increase of 49.4% from the March 15th total of 4,697,214 shares. Based on an average trading volume of 1,880,039 shares, the short-interest ratio is currently 3.7 days. Currently, 6.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACRS. Weiss Ratings reissued a "sell (d-)" rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th. Wedbush reissued an "outperform" rating and set a $8.00 price target on shares of Aclaris Therapeutics in a research note on Tuesday, March 31st. HC Wainwright reissued a "buy" rating and set a $16.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Wall Street Zen downgraded shares of Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Craig Hallum started coverage on shares of Aclaris Therapeutics in a research note on Friday, January 30th. They set a "buy" rating and a $10.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $9.80.

Aclaris Therapeutics Stock Down 3.5%

Shares of ACRS stock opened at $3.90 on Tuesday. The firm has a fifty day moving average of $3.52 and a 200-day moving average of $2.99. Aclaris Therapeutics has a 12-month low of $1.08 and a 12-month high of $4.89. The company has a market capitalization of $470.32 million, a price-to-earnings ratio of -7.36 and a beta of 0.67.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 52.04% and a negative net margin of 829.58%. On average, equities analysts expect that Aclaris Therapeutics will post -0.82 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Three Bridge Wealth Advisors LLC acquired a new stake in shares of Aclaris Therapeutics during the 3rd quarter worth about $1,358,000. JPMorgan Chase & Co. raised its stake in Aclaris Therapeutics by 21.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,576 shares of the biotechnology company's stock worth $1,441,000 after purchasing an additional 134,784 shares in the last quarter. AXQ Capital LP acquired a new stake in Aclaris Therapeutics in the 3rd quarter worth about $27,000. Squarepoint Ops LLC raised its stake in Aclaris Therapeutics by 11.9% in the 2nd quarter. Squarepoint Ops LLC now owns 390,583 shares of the biotechnology company's stock worth $555,000 after purchasing an additional 41,666 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Aclaris Therapeutics by 59.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,667 shares of the biotechnology company's stock worth $51,000 after purchasing an additional 9,894 shares in the last quarter. Institutional investors own 98.34% of the company's stock.

Aclaris Therapeutics Company Profile

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.

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