Aclaris Therapeutics (NASDAQ:ACRS) Shares Pass Below 50 Day Moving Average – Should You Sell?

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $3.51 and traded as low as $3.35. Aclaris Therapeutics shares last traded at $3.49, with a volume of 1,519,954 shares.

Wall Street Analyst Weigh In

ACRS has been the topic of a number of recent analyst reports. Craig Hallum initiated coverage on shares of Aclaris Therapeutics in a research note on Friday, January 30th. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday. Wall Street Zen lowered Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Aclaris Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $9.80.

Aclaris Therapeutics Price Performance

The business has a fifty day moving average price of $3.51 and a 200 day moving average price of $2.84. The company has a market capitalization of $420.89 million, a price-to-earnings ratio of -6.58 and a beta of 0.88.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $1.30 million during the quarter, compared to analyst estimates of $2.07 million. Aclaris Therapeutics had a negative return on equity of 52.04% and a negative net margin of 829.58%. Research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Three Bridge Wealth Advisors LLC acquired a new stake in Aclaris Therapeutics in the third quarter worth approximately $1,358,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Aclaris Therapeutics during the 2nd quarter valued at $28,000. Squarepoint Ops LLC raised its stake in shares of Aclaris Therapeutics by 11.9% in the 2nd quarter. Squarepoint Ops LLC now owns 390,583 shares of the biotechnology company’s stock worth $555,000 after buying an additional 41,666 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Aclaris Therapeutics in the 2nd quarter worth $64,000. Finally, XTX Topco Ltd acquired a new stake in shares of Aclaris Therapeutics in the second quarter valued at $34,000. 98.34% of the stock is currently owned by institutional investors.

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.