Aclaris Therapeutics (NASDAQ:ACRS) Share Price Passes Above 50 Day Moving Average – Here’s Why

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty 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.

Wall Street Analysts Forecast Growth

ACRS has been the subject of a number of research analyst reports. UBS Group set a $10.00 price target on Aclaris Therapeutics in a report on Thursday, April 16th. Wall Street Zen upgraded Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Wedbush upped their price target on Aclaris Therapeutics from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Lifesci Capital initiated coverage on Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Aclaris Therapeutics in a report on Thursday, March 19th. Three investment analysts have 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.com, the company presently has a consensus rating of “Buy” and an average target price of $11.50.

Aclaris Therapeutics Price Performance

The business has a 50 day moving average of $4.39 and a 200 day moving average of $3.66. The firm has a market capitalization of $603.33 million, a price-to-earnings ratio of -7.71 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The business 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%. On average, sell-side analysts forecast that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current fiscal year.

Insider Activity at Aclaris Therapeutics

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the company’s stock in a transaction 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 approximately $63,193,500. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Aclaris Therapeutics by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 207,024 shares of the biotechnology company’s stock valued at $776,000 after purchasing an additional 3,507 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of Aclaris Therapeutics by 2.2% in the third quarter. Raymond James Financial Inc. now owns 283,476 shares of the biotechnology company’s stock valued at $539,000 after purchasing an additional 6,217 shares in the last quarter. Rhumbline Advisers raised its stake in Aclaris Therapeutics by 7.4% during the third quarter. Rhumbline Advisers now owns 91,236 shares of the biotechnology company’s stock worth $173,000 after acquiring an additional 6,271 shares in the last quarter. ProShare Advisors LLC raised its stake in Aclaris Therapeutics by 45.4% during the fourth quarter. ProShare Advisors LLC now owns 21,553 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 6,734 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in Aclaris Therapeutics by 19.8% during the fourth quarter. Intech Investment Management LLC now owns 46,646 shares of the biotechnology company’s stock worth $140,000 after acquiring an additional 7,702 shares in the last quarter. 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.