Aclaris Therapeutics (NASDAQ:ACRS) Stock Passes Below 50-Day Moving Average of $1.24

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-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.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ACRS shares. HC Wainwright restated a “neutral” rating on shares of Aclaris Therapeutics in a report on Monday, August 19th. StockNews.com upgraded shares of Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.25.

Aclaris Therapeutics Price Performance

The stock has a market cap of $83.38 million, a price-to-earnings ratio of -1.07 and a beta of 0.27. The business’s fifty day simple moving average is $1.24 and its 200 day simple moving average is $1.21.

Aclaris Therapeutics (NASDAQ:ACRS) last issued 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. Aclaris Therapeutics had a negative net margin of 183.28% and a negative return on equity of 53.18%. The firm had revenue of $2.77 million for the quarter, compared to analysts’ expectations of $1.74 million. As a group, equities analysts forecast that Aclaris Therapeutics, Inc. will post -0.66 EPS for the current fiscal year.

Insider Activity at Aclaris Therapeutics

In related news, major shareholder Braden Michael Leonard bought 528,621 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was purchased at an average price of $1.15 per share, with a total value of $607,914.15. Following the completion of the transaction, the insider now directly owns 11,007,134 shares of the company’s stock, valued at $12,658,204.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last quarter, insiders bought 2,609,123 shares of company stock valued at $2,976,646. 6.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aclaris Therapeutics

Several hedge funds have recently added to or reduced their stakes in ACRS. Stonepine Capital Management LLC bought a new position in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $2,120,000. Trium Capital LLP acquired a new position in Aclaris Therapeutics in the 2nd quarter valued at $2,081,000. Vanguard Group Inc. raised its holdings in Aclaris Therapeutics by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock valued at $6,113,000 after acquiring an additional 207,418 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Aclaris Therapeutics during the 2nd quarter worth $119,000. Finally, Octagon Capital Advisors LP acquired a new position in shares of Aclaris Therapeutics during the 4th quarter worth $105,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.