Aclaris Therapeutics (NASDAQ:ACRS) Stock Price Passes Below 50 Day Moving Average - Here's Why

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) shares crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.23 and traded as low as $1.50. Aclaris Therapeutics shares last traded at $1.58, with a volume of 1,606,988 shares changing hands.

Analysts Set New Price Targets

Several research firms recently issued reports on ACRS. StockNews.com cut Aclaris Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, February 8th. Cantor Fitzgerald began coverage on shares of Aclaris Therapeutics in a research note on Tuesday. They set an "overweight" rating on the stock. HC Wainwright upgraded shares of Aclaris Therapeutics from a "neutral" rating to a "buy" rating and set a $20.00 price target for the company in a research note on Monday, December 23rd. Finally, Scotiabank started coverage on shares of Aclaris Therapeutics in a research report on Friday, March 7th. They set a "sector outperform" rating and a $15.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Aclaris Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $11.67.

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Aclaris Therapeutics Trading Up 1.9 %

The company's 50 day moving average price is $2.18 and its two-hundred day moving average price is $2.20. The firm has a market cap of $172.67 million, a PE ratio of -3.08 and a beta of 0.48.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. purchased a new position in Aclaris Therapeutics during the fourth quarter valued at approximately $23,876,000. Vivo Capital LLC bought a new position in Aclaris Therapeutics in the 4th quarter worth $22,044,000. Rock Springs Capital Management LP increased its stake in Aclaris Therapeutics by 125.3% in the 4th quarter. Rock Springs Capital Management LP now owns 6,204,309 shares of the biotechnology company's stock worth $15,387,000 after buying an additional 3,450,814 shares in the last quarter. RA Capital Management L.P. bought a new stake in Aclaris Therapeutics during the fourth quarter valued at about $11,573,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Aclaris Therapeutics in the fourth quarter valued at about $6,985,000. 98.34% of the stock is currently owned by institutional investors.

Aclaris Therapeutics Company Profile

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.