Aclaris Therapeutics (NASDAQ:ACRS) Stock Price Down 3.8% – Time to Sell?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS) dropped 3.8% during trading on Tuesday. The stock traded as low as $5.23 and last traded at $5.2250. 169,743 shares were traded during trading, a decline of 92% from the average daily volume of 2,004,112 shares. The stock had previously closed at $5.43.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ACRS shares. Canaccord Genuity Group began coverage on Aclaris Therapeutics in a report on Tuesday, September 1st. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Monday, September 21st. Finally, Lifesci Capital began coverage on shares of Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Aclaris Therapeutics has an average rating of “Buy” and an average price target of $11.33.

Aclaris Therapeutics Price Performance

The stock has a fifty day moving average price of $5.78 and a two-hundred day moving average price of $4.94. The company has a market cap of $724.97 million, a P/E ratio of -8.95 and a beta of 0.79.

Aclaris Therapeutics (NASDAQ:ACRS) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.01. The business had revenue of $1.63 million during the quarter, compared to the consensus estimate of $1.38 million. Aclaris Therapeutics had a negative return on equity of 61.65% and a negative net margin of 921.50%. Equities analysts predict that Aclaris Therapeutics, Inc. will post -0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ACRS. Jefferies Financial Group Inc. purchased a new position in shares of Aclaris Therapeutics during the 2nd quarter valued at $58,000. Legal & General Group Plc bought a new position in shares of Aclaris Therapeutics in the second quarter worth $61,000. Strs Ohio purchased a new position in shares of Aclaris Therapeutics in the first quarter valued at $60,000. Walleye Capital LLC purchased a new position in shares of Aclaris Therapeutics in the second quarter valued at $104,000. Finally, ProShare Advisors LLC raised its stake in shares of Aclaris Therapeutics by 45.4% during the 4th quarter. ProShare Advisors LLC now owns 21,553 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 6,734 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

About Aclaris Therapeutics

Aclaris Therapeutics, Inc (NASDAQ: ACRS) is a clinical-stage biopharmaceutical company focused on developing therapies for immune-mediated and inflammatory diseases. The company’s research programs are centered on potentially addressing conditions in which existing treatments have limited effectiveness or tolerability.

Aclaris has developed a pipeline that has included zunsemetinib, an oral mitogen-activated protein kinase-activated protein kinase 2 (MK2) inhibitor being studied for inflammatory diseases, and other small-molecule therapies targeting immune and inflammatory pathways.