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  • This image released by Warner Bros. Pictures shows Bill Skarsgard...

    PHOTO BY Brooke Palmer/Warner Bros. Pictures via AP

    This image released by Warner Bros. Pictures shows Bill Skarsgard in a scene from “It.”

  • This image released by Warner Bros. Pictures shows Jaeden Lieberher...

    PHOTO BY Brooke Palmer/Warner Bros. Pictures via AP

    This image released by Warner Bros. Pictures shows Jaeden Lieberher in a scene from “It.”

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The more clowning around “It” does, the less scary it is.

In adapting Stephen King’s 1986 horror novel “It,” director Andy Muschietti makes the same mistake he made with 2013’s “Mama” – the same mistake many a horror-movie director has made – by showing us more and more of his terrifying monster as the story unfolds.

In this case, the monster in Pennywise, the Dancing Clown, who in the film’s opening minutes lurks below the street in a sewer on a rainy day. When a young boy loses his paper boat into a sewer opening, he is – as we are – met by the glowing eyes of Pennywise (Bill Skarsgard). Although incredibly creepy, Pennywise manages to bond with the boy, Georgie Denbrough (Jackson Robert Scott) – before biting his arm off and pulling him into the sewer.

This is the movie at its scary best. As the story unfolds, however, and the movie’s young band of misfits goes on a Pennywise hunt, “It” remains mildly entertaining but not truly haunting.

The tale begins in earnest in October 1988, months after Georgie’s disappearance, with big brother Bill (Jaeden Lieberher) holding out hope Georgie is alive somewhere. After all, Georgie isn’t the only kid who’s gone missing of late in Derry, Maine. In fact, Bill and his pals will come to learn from new friend Ben Hanscom (Jeremy Ray Taylor) that over the decades the town far surpasses the national average for child disappearances and deaths.

“Derry’s not like any town I’ve ever been in before,” Ben says to the group.

Um, yeah.Over the course of “It,” that group of buddies will come to include Richie Tozier (Finn Wolfhard), Mike Hanlon (Chosen Jacobs), Eddie Kaspbrak (Jack Dylan Grazer), Stanley Uris (Wyatt Oleff) and Beverly Marsh (Sophia Lillis). Each seemingly has a defect – Bill stutters, Ben is overweight, Eddie is frail and has asthma, Beverly already has earned a bit of a reputation, etc. – and they call themselves “The Losers Club.”

Each of them is visited by Pennywise, who uses his supernatural powers to prey on their worst fears – and, to Muschietti’s credit, some of these first-half scenes are nerve-splitting.

And “It” is enjoyable enough as we spend time with the teens bonding. They give each other a hard time – there are the obligatory jokes about sisters, mothers and male genitalia – and Bill and Ben crush reasonably hard on Beverly. Like the boys, Beverly is bullied at school, so she’s particularly sweet to Ben, who hasn’t lived in town long. She gives a friendly hard time over his love of boy band New Kids on the Block.

“Hang tough, New Kid,” she tells him after meeting him, referencing a popular song by the group. (His replying back, awkwardly and after she’s taken several steps from him, “Please don’t go, girl,” is a pretty charming moment.)

It takes a surprisingly long time for everyone in the gang to confess to one another about an encounter with Pennywise. However, once they do, it’s time to take action with an ill-considered plan to deal with this clown! They will go to the incredibly horrifying run-down house where they believe he lives, because … well because we need something to happen in the movie, most likely.

Skarsgard (Netflix’s “Hemlock Grove”) is rather effective as this child-craving embodiment of evil. You surely wouldn’t want to meet his Pennywise in a run-down house or sewer. (You’ll have to look elsewhere for comparisons to Tim Curry’s portrayal of the character in the 1990 television miniseries “It.”)

The young actors are, to varying degrees, enjoyable, as well. However, while he’s good in “It,” “Stranger Things” star Wolfhard, despite portraying a kid with a far different personality here, does kind of make you wish you were back hanging out with the young crew from that highly enjoyable – and soon-to-return – Netflix series.

The solid script by Chase Palmer and Cary Fukunaga (“True Detective”) explores themes of friendship, bullying, poor parenting and, of course, fear. Unlike the novel and the aforementioned miniseries, their story deals only with The Losers Club when they are young. There is a hope by producers there would be a second part to this “It,” which, seemingly, would follow the characters as adults in the 2010s.

Problem is, even though he’s not guiding us through King’s whole story, Muschietti doesn’t leave us wanting more. His movie’s climactic stretch is predictably bloated and a bit too silly.

Plus – and this isn’t a negative – “It,” while leaving the door cracked for more, does provide enough of an ending.

It may be best to let sleeping clowns lie.

‘It’

In theaters: Sept. 8.Runtime: 2 hours, 15 minutes.

Rated: R for violence/horror, bloody images, and for language.

Stars (of four): 2.