Aclaris Therapeutics (NASDAQ:ACRS) Stock Crosses Above 50-Day Moving Average – What’s Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $4.80 and traded as high as $5.65. Aclaris Therapeutics shares last traded at $5.43, with a volume of 832,208 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. UBS Group set a $10.00 price objective on shares of Aclaris Therapeutics in a research note on Thursday, April 16th. Guggenheim assumed coverage on shares of Aclaris Therapeutics in a report on Tuesday, May 5th. They set a “buy” rating and a $12.00 target price on the stock. Piper Sandler increased their target price on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Finally, Wedbush raised 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. 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’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $11.50.

Aclaris Therapeutics Price Performance

The firm’s 50 day moving average is $4.80 and its 200 day moving average is $3.98. The company has a market cap of $758.35 million, a PE ratio of -9.70 and a beta of 0.76.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. Aclaris Therapeutics had a negative net margin of 832.58% and a negative return on equity of 55.89%. The business had revenue of $2.00 million for the quarter, compared to analysts’ expectations of $1.32 million. As a group, analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Insider Buying and Selling at Aclaris Therapeutics

In other news, major shareholder Braden Michael Leonard sold 300,000 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $4.53, for a total value of $1,359,000.00. Following the transaction, the insider owned 13,950,000 shares of the company’s stock, valued at approximately $63,193,500. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Aclaris Therapeutics

Several large investors have recently added to or reduced their stakes in ACRS. Bank of New York Mellon Corp lifted its position in Aclaris Therapeutics by 1.7% during 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 during the period. Raymond James Financial Inc. grew its position in Aclaris Therapeutics by 2.2% in the 3rd quarter. Raymond James Financial Inc. now owns 283,476 shares of the biotechnology company’s stock worth $539,000 after purchasing an additional 6,217 shares during the period. Rhumbline Advisers raised its stake in Aclaris Therapeutics by 7.4% during the 3rd quarter. Rhumbline Advisers now owns 91,236 shares of the biotechnology company’s stock valued at $173,000 after buying an additional 6,271 shares during the last quarter. ProShare Advisors LLC raised its stake in Aclaris Therapeutics by 45.4% during the 4th quarter. ProShare Advisors LLC now owns 21,553 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 6,734 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Aclaris Therapeutics by 19.8% during the 4th quarter. Intech Investment Management LLC now owns 46,646 shares of the biotechnology company’s stock valued at $140,000 after buying an additional 7,702 shares during the period. Institutional investors own 98.34% of the company’s stock.

About Aclaris Therapeutics

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.