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

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $4.39 and traded as high as $4.39. Aclaris Therapeutics shares last traded at $4.37, with a volume of 818,754 shares traded.

Analyst Ratings Changes

Several analysts recently issued reports on ACRS shares. HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. UBS Group set a $10.00 price objective on Aclaris Therapeutics in a report on Thursday, April 16th. Wedbush lifted their price objective on Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Lifesci Capital started coverage on Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of “Buy” and an average price target of $11.50.

Aclaris Therapeutics Stock Performance

The stock has a 50-day simple moving average of $4.39 and a two-hundred day simple moving average of $3.65. The firm has a market cap of $610.31 million, a PE ratio of -7.80 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.01. The company had revenue of $2.00 million during the quarter, compared to analyst estimates of $1.32 million. Aclaris Therapeutics had a negative return on equity of 55.89% and a negative net margin of 832.58%. As a group, sell-side analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current fiscal year.

Insider Transactions at Aclaris Therapeutics

In other Aclaris Therapeutics news, major shareholder Braden Michael Leonard sold 300,000 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total value of $1,359,000.00. Following the completion of the transaction, the insider directly owned 13,950,000 shares in the company, valued at $63,193,500. This represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in Aclaris Therapeutics by 21.6% in the third quarter. JPMorgan Chase & Co. now owns 758,576 shares of the biotechnology company’s stock worth $1,441,000 after purchasing an additional 134,784 shares during the last quarter. AXQ Capital LP bought a new position in shares of Aclaris Therapeutics during the 3rd quarter worth $27,000. Monashee Investment Management LLC purchased a new position in Aclaris Therapeutics during the 1st quarter valued at about $1,875,000. Strs Ohio purchased a new position in shares of Aclaris Therapeutics in the 1st quarter valued at $60,000. Finally, Assenagon Asset Management S.A. grew its position in shares of Aclaris Therapeutics by 14.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 177,283 shares of the biotechnology company’s stock worth $665,000 after buying an additional 22,729 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

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.