Aclaris Therapeutics (NASDAQ:ACRS) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.19 and traded as high as $1.71. Aclaris Therapeutics shares last traded at $1.69, with a volume of 7,179,150 shares traded.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HC Wainwright reiterated a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, July 25th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.00.

Aclaris Therapeutics Trading Up 31.0 %

The business’s fifty day moving average price is $1.20 and its two-hundred day moving average price is $1.20. The firm has a market cap of $120.44 million, a P/E ratio of -1.55 and a beta of 0.20.

Aclaris Therapeutics (NASDAQ:ACRS) last posted its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.04. The company had revenue of $2.77 million for 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%. Research analysts predict that Aclaris Therapeutics, Inc. will post -0.65 EPS for the current fiscal year.

Insider Buying and Selling at Aclaris Therapeutics

In other news, major shareholder Braden Michael Leonard acquired 173,730 shares of Aclaris Therapeutics stock in a transaction dated Tuesday, July 30th. The stock was acquired at an average cost of $1.30 per share, for a total transaction of $225,849.00. Following the completion of the purchase, the insider now owns 13,776,421 shares of the company’s stock, valued at $17,909,347.30. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in Aclaris Therapeutics in the first quarter valued at about $39,000. SG Americas Securities LLC grew its stake 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 purchasing an additional 13,461 shares during the period. Russell Investments Group Ltd. raised 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 worth $78,000 after buying an additional 61,602 shares in the last quarter. Deuterium Capital Management LLC bought a new position in shares of Aclaris Therapeutics during the 1st quarter worth approximately $99,000. Finally, Marquette Asset Management LLC acquired a new stake in Aclaris Therapeutics in the 1st quarter valued at $104,000. 98.34% of the stock is currently owned by 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.