Aclaris Therapeutics (NASDAQ:ACRS) Trading Down 6.2% – Should You Sell?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) shares fell 6.2% during trading on Wednesday . The company traded as low as $6.11 and last traded at $6.1240. 838,800 shares traded hands during trading, a decline of 57% from the average daily volume of 1,931,577 shares. The stock had previously closed at $6.53.

Analyst Ratings Changes

A number of brokerages recently issued reports on ACRS. Wall Street Zen raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Piper Sandler increased their target price on Aclaris Therapeutics from $7.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research report on Wednesday, June 24th. Guggenheim began coverage on shares of Aclaris Therapeutics in a research note on Tuesday, May 5th. They set a “buy” rating and a $12.00 target price for the company. Finally, Lifesci Capital initiated coverage on shares of Aclaris Therapeutics in a research note on Tuesday, June 2nd. They issued an “outperform” rating and a $13.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Aclaris Therapeutics currently has a consensus rating of “Buy” and an average target price of $11.50.

Aclaris Therapeutics Stock Down 0.5%

The company has a market cap of $861.29 million, a P/E ratio of -10.62 and a beta of 0.78. The firm has a 50 day moving average of $5.62 and a 200-day moving average of $4.57.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%.The business had revenue of $1.63 million during the quarter, compared to analyst estimates of $1.38 million. On average, research analysts predict that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current fiscal year.

Institutional Trading of Aclaris Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Aclaris Therapeutics during the 2nd quarter worth about $53,096,000. Millennium Management LLC raised its holdings in shares of Aclaris Therapeutics by 111.0% in the 1st quarter. Millennium Management LLC now owns 4,134,148 shares of the biotechnology company’s stock valued at $6,325,000 after purchasing an additional 2,175,101 shares in the last quarter. Kalehua Capital Management LLC bought a new stake in shares of Aclaris Therapeutics in the 1st quarter valued at about $6,871,000. Kotler Kevin purchased a new stake in shares of Aclaris Therapeutics in the 4th quarter worth approximately $5,135,000. Finally, Palo Alto Investors LP purchased a new stake in shares of Aclaris Therapeutics in the 2nd quarter worth approximately $8,535,045,000. 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.