Aclaris Therapeutics, Inc. (NASDAQ:ACRS) Short Interest Update

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) was the target 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 shares of the company are short sold.

Aclaris Therapeutics Trading Down 3.3 %

Shares of ACRS opened at $1.48 on Wednesday. Aclaris Therapeutics has a 12-month low of $0.95 and a 12-month high of $5.17. The stock has a market cap of $159.72 million, a P/E ratio of -2.85 and a beta of 0.48. The company has a 50-day moving average of $2.03 and a two-hundred day moving average of $2.24.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of ACRS. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Aclaris Therapeutics in the fourth quarter valued at $23,876,000. Vivo Capital LLC acquired a new stake in shares of Aclaris Therapeutics during the 4th quarter worth about $22,044,000. RA Capital Management L.P. acquired a new stake in shares of Aclaris Therapeutics during the 4th quarter worth about $11,573,000. Rock Springs Capital Management LP grew its holdings in shares of Aclaris Therapeutics by 125.3% during the fourth quarter. Rock Springs Capital Management LP now owns 6,204,309 shares of the biotechnology company’s stock worth $15,387,000 after buying an additional 3,450,814 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $6,985,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Analyst Ratings Changes

ACRS has been the topic of several recent research reports. StockNews.com cut shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 8th. 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 report on Monday, December 23rd. Scotiabank initiated coverage on Aclaris Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $15.00 price objective on the stock. Finally, Cantor Fitzgerald began coverage on Aclaris Therapeutics in a research note on Tuesday, March 18th. They set an “overweight” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.