Aclaris Therapeutics (NASDAQ:ACRS) Shares Down 6.5% – Time to Sell?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price fell 6.5% during trading on Monday. The stock traded as low as $4.15 and last traded at $4.1050. Approximately 355,336 shares were traded during trading, a decline of 83% from the average session volume of 2,045,687 shares. The stock had previously closed at $4.39.

Analyst Ratings Changes

ACRS has been the topic of several research reports. Canaccord Genuity Group started coverage on Aclaris Therapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Monday, September 21st. Finally, Wall Street Zen downgraded Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Three investment 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’s stock. According to MarketBeat.com, Aclaris Therapeutics presently has an average rating of “Buy” and a consensus price target of $11.33.

Aclaris Therapeutics Stock Performance

The company has a market capitalization of $517.33 million, a price-to-earnings ratio of -6.38 and a beta of 0.87. The firm’s 50-day simple moving average is $5.67 and its 200-day simple moving average is $4.98.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. The business had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.38 million. Equities research analysts forecast that Aclaris Therapeutics, Inc. will post -0.62 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Braidwell LP raised its stake in Aclaris Therapeutics by 26.1% during the second quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock worth $11,333,000 after acquiring an additional 443,232 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Aclaris Therapeutics by 4.0% during the second quarter. Wellington Management Group LLP now owns 267,498 shares of the biotechnology company’s stock valued at $1,415,000 after purchasing an additional 10,342 shares during the last quarter. Palo Alto Investors LP acquired a new stake in shares of Aclaris Therapeutics in the second quarter valued at approximately $8,535,045. Jefferies Financial Group Inc. acquired a new stake in shares of Aclaris Therapeutics in the second quarter valued at approximately $58,000. Finally, Bank of America Corp DE bought a new position in Aclaris Therapeutics in the 2nd quarter worth approximately $584,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated diseases. The company’s research programs have centered on small-molecule treatments designed to address inflammatory and autoimmune conditions, including dermatologic and rheumatologic diseases.

Aclaris’ lead investigational program is zunsemetinib (ATI-450), an oral mitogen-activated protein kinase-activated protein kinase 2 (MK2) inhibitor being evaluated for potential use in inflammatory conditions such as rheumatoid arthritis and psoriasis.