Aclaris Therapeutics (NASDAQ:ACRS) Share Price Passes Below Fifty Day Moving Average of $1.24

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.24 and traded as low as $1.15. Aclaris Therapeutics shares last traded at $1.18, with a volume of 133,542 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a research report on Monday, August 19th. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, July 25th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.25.

Aclaris Therapeutics Trading Down 0.8 %

The firm has a market cap of $83.38 million, a PE ratio of -1.07 and a beta of 0.27. The stock has a 50 day simple moving average of $1.24 and a 200-day simple moving average of $1.21.

Aclaris Therapeutics (NASDAQ:ACRS) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.04. The company had revenue of $2.77 million during the quarter, compared to analyst estimates of $1.74 million. Aclaris Therapeutics had a negative return on equity of 53.18% and a negative net margin of 183.28%. On average, equities research analysts expect that Aclaris Therapeutics, Inc. will post -0.66 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Braden Michael Leonard purchased 1,000,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was bought at an average cost of $1.08 per share, with a total value of $1,080,000.00. Following the completion of the acquisition, the insider now owns 10,395,934 shares of the company’s stock, valued at approximately $11,227,608.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders bought 2,609,123 shares of company stock worth $2,976,646. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Aclaris Therapeutics during the 1st quarter worth about $39,000. SG Americas Securities LLC lifted its holdings in shares of Aclaris Therapeutics by 69.5% in the 1st quarter. SG Americas Securities LLC now owns 32,843 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 13,461 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Aclaris Therapeutics by 115.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,784 shares of the biotechnology company’s stock valued at $46,000 after buying an additional 23,467 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Aclaris Therapeutics by 5,265.1% in the 1st quarter. Russell Investments Group Ltd. now owns 62,772 shares of the biotechnology company’s stock valued at $78,000 after buying an additional 61,602 shares during the period. Finally, Deuterium Capital Management LLC acquired a new position in Aclaris Therapeutics during the first quarter worth $99,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc a clinical-stage biopharmaceutical company, engages in the development of novel drug candidates for immune-inflammatory diseases in the United States. The company operates through two segments, Therapeutics and Contract Research. The Therapeutics segment is involved in identifying and developing therapies to address significant unmet needs for immuno-inflammatory diseases.