Aclaris Therapeutics (NASDAQ:ACRS) Stock Passes Below Fifty Day Moving Average – Here’s What Happened

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty 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.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Craig Hallum initiated coverage on shares of Aclaris Therapeutics in a research report on Friday, January 30th. They issued a “buy” rating and a $10.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Wall Street Zen downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.80.

Aclaris Therapeutics Trading Down 0.9%

The stock has a fifty day moving average of $3.51 and a 200-day moving average of $2.84. The firm has a market capitalization of $420.89 million, a price-to-earnings ratio of -6.58 and a beta of 0.88.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its earnings results on Thursday, February 26th. The biotechnology company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). Aclaris Therapeutics had a negative net margin of 829.58% and a negative return on equity of 52.04%. The company had revenue of $1.30 million for the quarter, compared to analysts’ expectations of $2.07 million. As a group, equities research analysts forecast that Aclaris Therapeutics, Inc. will post -0.82 earnings per share for the current fiscal year.

Institutional Trading of Aclaris Therapeutics

A number of hedge funds have recently bought and sold shares of ACRS. Millennium Management LLC lifted its stake in Aclaris Therapeutics by 111.0% during the first 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Aclaris Therapeutics by 108.4% in the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after acquiring an additional 1,282,042 shares in the last quarter. Kotler Kevin acquired a new stake in shares of Aclaris Therapeutics during the fourth quarter valued at approximately $5,135,000. Palo Alto Investors LP raised its holdings in shares of Aclaris Therapeutics by 12.7% during the third 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 holdings in shares of Aclaris Therapeutics by 35.3% during the fourth 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 hedge funds and other institutional investors.

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.