Aclaris Therapeutics (NASDAQ:ACRS) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s stock price 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.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wedbush upped their price objective on shares of Aclaris Therapeutics from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Guggenheim initiated coverage on Aclaris Therapeutics in a research note on Tuesday, May 5th. They set a “buy” rating and a $12.00 target price for the company. Piper Sandler lifted their price objective on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Aclaris Therapeutics in a research note on Thursday, March 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Friday, March 27th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $11.50.

Aclaris Therapeutics Stock Performance

The company has a market capitalization of $610.31 million, a price-to-earnings ratio of -7.80 and a beta of 0.76. The firm has a 50-day simple moving average of $4.39 and a two-hundred day simple moving average of $3.65.

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

Insider Transactions at Aclaris Therapeutics

In related news, major shareholder Braden Michael Leonard sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $4.53, for a total transaction of $1,359,000.00. Following the completion of the sale, the insider owned 13,950,000 shares in the company, valued at $63,193,500. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Aclaris Therapeutics

Large investors have recently modified their holdings of the company. Millennium Management LLC boosted its holdings in shares of Aclaris Therapeutics by 111.0% in the first quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after acquiring an additional 2,175,101 shares in the last quarter. Kalehua Capital Management LLC purchased a new stake in shares of Aclaris Therapeutics in the first quarter valued at approximately $6,871,000. Kotler Kevin purchased a new position in Aclaris Therapeutics in the fourth quarter worth $5,135,000. Geode Capital Management LLC raised its position in Aclaris Therapeutics by 108.4% in the second quarter. Geode Capital Management LLC now owns 2,464,779 shares of the biotechnology company’s stock worth $3,501,000 after acquiring an additional 1,282,042 shares in the last quarter. Finally, Ameriprise Financial Inc. acquired a new stake in Aclaris Therapeutics in the third quarter valued at $2,428,000. 98.34% of the stock is owned by institutional investors and hedge funds.

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.