Aclaris Therapeutics (NASDAQ:ACRS) Trading Down 8% – Should You Sell?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) shares dropped 8% during trading on Wednesday . The company traded as low as $5.61 and last traded at $5.5750. Approximately 2,394,664 shares changed hands during trading, an increase of 24% from the average session volume of 1,927,777 shares. The stock had previously closed at $6.06.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ACRS shares. Wall Street Zen raised shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Lifesci Capital started coverage on shares of Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price objective for the company. Canaccord Genuity Group initiated coverage on Aclaris Therapeutics in a research note on Tuesday, September 1st. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Aclaris Therapeutics has a consensus rating of “Buy” and an average price target of $11.33.

Aclaris Therapeutics Trading Down 9.0%

The stock has a market cap of $771.11 million, a price-to-earnings ratio of -9.53 and a beta of 0.79. The stock’s 50 day moving average is $5.80 and its two-hundred day moving average is $4.72.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.01. The company had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.38 million. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. On average, sell-side analysts predict that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sei Investments Co. acquired a new position in shares of Aclaris Therapeutics in the 1st quarter valued at about $814,000. Dimensional Fund Advisors LP lifted its stake in Aclaris Therapeutics by 88.8% in the first quarter. Dimensional Fund Advisors LP now owns 511,461 shares of the biotechnology company’s stock worth $1,914,000 after acquiring an additional 240,611 shares during the last quarter. Kalehua Capital Management LLC purchased a new stake in Aclaris Therapeutics in the first quarter valued at $6,871,000. Deutsche Bank AG purchased a new position in shares of Aclaris Therapeutics in the 2nd quarter valued at approximately $5,507,000. Finally, Monashee Investment Management LLC purchased a new position in Aclaris Therapeutics in the first quarter worth $1,875,000. Institutional investors and hedge funds 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.