Aclaris Therapeutics (NASDAQ:ACRS) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $3.51 and traded as low as $3.35. Aclaris Therapeutics shares last traded at $3.49, with a volume of 1,519,954 shares.

Wall Street Analyst Weigh In

ACRS has been the subject of several recent research reports. Wedbush reaffirmed an “outperform” rating and issued a $8.00 price target on shares of Aclaris Therapeutics in a report on Tuesday. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Craig Hallum began coverage on Aclaris Therapeutics in a report on Friday, January 30th. They issued a “buy” rating and a $10.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th. Finally, Wall Street Zen lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Aclaris Therapeutics has an average rating of “Moderate Buy” and an average price target of $9.80.

Aclaris Therapeutics Trading Up 10.4%

The firm has a market cap of $499.28 million, a price-to-earnings ratio of -7.81 and a beta of 0.66. The stock’s fifty day moving average price is $3.49 and its 200-day moving average price is $2.86.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.07 million. Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. Analysts predict that Aclaris Therapeutics, Inc. will post -0.82 earnings per share for the current year.

Institutional Trading of Aclaris Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC raised its holdings in Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after buying an additional 2,175,101 shares during the period. Geode Capital Management LLC increased its position in shares of Aclaris Therapeutics by 108.4% during the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after acquiring an additional 1,282,042 shares during the last quarter. Kotler Kevin acquired a new stake in shares of Aclaris Therapeutics during the fourth quarter valued at about $5,135,000. Palo Alto Investors LP raised its stake in shares of Aclaris Therapeutics by 12.7% in the 3rd quarter. Palo Alto Investors LP now owns 1,566,840 shares of the biotechnology company’s stock valued at $2,977,000 after acquiring an additional 176,812 shares during the period. Finally, State Street Corp raised its stake in shares of Aclaris Therapeutics by 35.3% in the 4th quarter. State Street Corp now owns 1,506,403 shares of the biotechnology company’s stock valued at $4,534,000 after acquiring an additional 393,257 shares during the period. 98.34% of the stock is owned by institutional investors and hedge funds.

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.