Aclaris Therapeutics (NASDAQ:ACRS) Shares Down 5.3% – What’s Next?

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) dropped 5.3% during mid-day trading on Wednesday . The stock traded as low as $5.23 and last traded at $5.2350. 568,695 shares were traded during mid-day trading, a decline of 71% from the average session volume of 1,955,398 shares. The stock had previously closed at $5.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ACRS shares. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Lifesci Capital assumed coverage on Aclaris Therapeutics in a report on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 target price on the stock. Finally, Canaccord Genuity Group started coverage on Aclaris Therapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $10.00 target price on the stock. Three 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $11.33.

Aclaris Therapeutics Trading Down 5.3%

The company’s 50 day moving average price is $5.80 and its two-hundred day moving average price is $4.80. The firm has a market cap of $731.96 million, a PE ratio of -9.03 and a beta of 0.79.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Aclaris Therapeutics in the 2nd quarter worth approximately $53,096,000. Rock Springs Capital Management LP boosted its position in shares of Aclaris Therapeutics by 0.4% in the first quarter. Rock Springs Capital Management LP now owns 4,472,650 shares of the biotechnology company’s stock worth $16,772,000 after purchasing an additional 18,909 shares during the period. Braidwell LP boosted its position in shares of Aclaris Therapeutics by 26.1% in the second quarter. Braidwell LP now owns 2,142,348 shares of the biotechnology company’s stock worth $11,333,000 after purchasing an additional 443,232 shares during the period. Palo Alto Investors LP purchased a new stake in shares of Aclaris Therapeutics in the second quarter worth $8,535,045. Finally, Kalehua Capital Management LLC purchased a new stake in shares of Aclaris Therapeutics in the first quarter worth $6,871,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc (NASDAQ: ACRS) is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated and inflammatory diseases. The company’s research programs are centered on potentially addressing conditions in which existing treatments have limited effectiveness or tolerability.

Aclaris has developed a pipeline that has included zunsemetinib, an oral mitogen-activated protein kinase-activated protein kinase 2 (MK2) inhibitor being studied for inflammatory diseases, and other small-molecule therapies targeting immune and inflammatory pathways.