Aclaris Therapeutics (NASDAQ:ACRS) Trading Down 8% – Should You Sell?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s stock price was down 8% during trading on Wednesday . The stock traded as low as $5.61 and last traded at $5.5750. Approximately 2,394,664 shares traded hands during trading, an increase of 24% from the average daily volume of 1,927,777 shares. The stock had previously closed at $6.06.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ACRS. Canaccord Genuity Group assumed coverage on shares of Aclaris Therapeutics in a research note on Tuesday, September 1st. They set a “buy” rating and a $10.00 price objective for the company. Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Lifesci Capital initiated coverage on Aclaris Therapeutics in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $11.33.

Aclaris Therapeutics Trading Down 1.8%

The company has a market capitalization of $756.57 million, a price-to-earnings ratio of -9.38 and a beta of 0.79. The firm’s 50 day moving average price is $5.81 and its two-hundred day moving average price is $4.75.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%.The firm had revenue of $1.63 million for the quarter, compared to the consensus estimate of $1.38 million. As a group, equities research analysts predict that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Institutional Investors Weigh In On Aclaris Therapeutics

Several hedge funds have recently bought and sold shares of ACRS. Invesco Ltd. grew its position in shares of Aclaris Therapeutics by 409.0% in the first quarter. Invesco Ltd. now owns 57,079 shares of the biotechnology company’s stock valued at $87,000 after purchasing an additional 45,864 shares during the last quarter. Millennium Management LLC boosted its stake 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 purchasing an additional 2,175,101 shares during the period. Goldman Sachs Group Inc. boosted its stake in Aclaris Therapeutics by 29.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 555,953 shares of the biotechnology company’s stock valued at $851,000 after purchasing an additional 127,366 shares during the period. Geode Capital Management LLC grew its holdings in Aclaris Therapeutics by 108.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock valued at $3,501,000 after buying an additional 1,282,042 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Aclaris Therapeutics by 25.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 623,792 shares of the biotechnology company’s stock worth $886,000 after buying an additional 125,071 shares during the period. 98.34% of the stock is currently 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.