Aclaris Therapeutics (NASDAQ:ACRS) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) shares crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.49 and traded as low as $2.00. Aclaris Therapeutics shares last traded at $2.06, with a volume of 510,630 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ACRS shares. StockNews.com cut Aclaris Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 8th. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 19th. Leerink Partners raised shares of Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $2.00 to $7.00 in a research report on Tuesday, November 19th. Cantor Fitzgerald raised shares of Aclaris Therapeutics to a “strong-buy” rating in a report on Thursday, January 30th. Finally, Jefferies Financial Group raised Aclaris Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the stock from $2.00 to $7.00 in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $11.00.

Aclaris Therapeutics Stock Performance

The stock’s 50-day simple moving average is $2.49 and its two-hundred day simple moving average is $2.15. The stock has a market cap of $147.15 million, a price-to-earnings ratio of -3.96 and a beta of 0.50.

Institutional Trading of Aclaris Therapeutics

Several institutional investors have recently bought and sold shares of the stock. ExodusPoint Capital Management LP bought a new position in Aclaris Therapeutics in the 4th quarter worth approximately $26,000. Invesco Ltd. acquired a new stake in Aclaris Therapeutics in the fourth quarter worth $28,000. Graham Capital Management L.P. bought a new position in Aclaris Therapeutics during the fourth quarter worth about $35,000. Commonwealth Equity Services LLC acquired a new position in shares of Aclaris Therapeutics in the 4th quarter valued at approximately $36,000. Finally, Alpine Global Management LLC acquired a new position in shares of Aclaris Therapeutics in the fourth quarter valued at approximately $38,000. 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.