Aclaris Therapeutics (NASDAQ:ACRS) Stock Price Passes Below 50 Day Moving Average – Should You 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 $2.23 and traded as low as $1.50. Aclaris Therapeutics shares last traded at $1.58, with a volume of 1,606,988 shares.

Wall Street Analyst Weigh In

ACRS has been the subject of a number of research analyst reports. StockNews.com downgraded Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 8th. BTIG Research upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Tuesday, November 19th. HC Wainwright raised shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, December 23rd. Jefferies Financial Group upgraded shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the company from $2.00 to $7.00 in a research note on Tuesday, November 19th. Finally, Leerink Partners upgraded shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $2.00 to $7.00 in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.67.

Aclaris Therapeutics Stock Down 1.9 %

The stock has a market capitalization of $167.27 million, a P/E ratio of -2.98 and a beta of 0.48. The company has a 50-day moving average price of $2.22 and a two-hundred day moving average price of $2.21.

Institutional Trading of Aclaris Therapeutics

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

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.