Aclaris Therapeutics (NASDAQ:ACRS) Shares Cross Above 50-Day Moving Average - What's Next?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS - Get Free Report) passed above its 50 day moving average during trading on Friday . The stock has a 50 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 trading hands.

Wall Street Analysts Forecast Growth

ACRS has been the subject of a number of analyst reports. StockNews.com upgraded shares of Aclaris Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, July 25th. HC Wainwright restated a "neutral" rating on shares of Aclaris Therapeutics in a research note on Tuesday, September 17th. Seven analysts have rated the stock with a hold rating, According to MarketBeat, Aclaris Therapeutics has a consensus rating of "Hold" and an average price target of $9.00.

Aclaris Therapeutics Price Performance

The stock has a market capitalization of $120.44 million, a P/E ratio of -1.55 and a beta of 0.20. The business's 50 day simple moving average is $1.20 and its 200-day simple moving average is $1.20.

Aclaris Therapeutics (NASDAQ:ACRS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported ($0.15) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.04. The company had revenue of $2.77 million for the quarter, compared to analysts' expectations of $1.74 million. Aclaris Therapeutics had a negative net margin of 183.28% and a negative return on equity of 53.18%. Research analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Insider Activity at Aclaris Therapeutics

In related news, major shareholder Braden Michael Leonard acquired 173,730 shares of the business's stock in a transaction that occurred on Tuesday, July 30th. The shares were acquired at an average cost of $1.30 per share, with a total value of $225,849.00. Following the transaction, the insider now owns 13,776,421 shares of the company's stock, valued at $17,909,347.30. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ACRS. Mirae Asset Global Investments Co. Ltd. acquired a new position in Aclaris Therapeutics in the 1st quarter valued at about $39,000. SG Americas Securities LLC grew its stake in 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 buying an additional 13,461 shares during the last quarter. Russell Investments Group Ltd. grew its stake in 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 valued at $78,000 after buying an additional 61,602 shares during the last quarter. Deuterium Capital Management LLC acquired a new position in Aclaris Therapeutics in the 1st quarter valued at about $99,000. Finally, Marquette Asset Management LLC acquired a new position in Aclaris Therapeutics in the 1st quarter valued at about $104,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

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.