Aclaris Therapeutics (NASDAQ:ACRS) Trading Down 5.3% – What’s Next?

Shares of Aclaris Therapeutics, Inc. (NASDAQ:ACRS) fell 5.3% during mid-day trading on Wednesday . The company traded as low as $5.23 and last traded at $5.2350. Approximately 568,695 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 1,955,398 shares. The stock had previously closed at $5.53.

Wall Street Analyst Weigh In

ACRS has been the subject of a number of research analyst reports. Lifesci Capital started coverage on Aclaris Therapeutics in a report on Tuesday, June 2nd. They set an “outperform” rating and a $13.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Aclaris Therapeutics in a research note on Wednesday, June 24th. Finally, Canaccord Genuity Group assumed coverage on Aclaris Therapeutics in a research report on Tuesday, September 1st. They issued a “buy” rating and a $10.00 price objective for the company. Three 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 company. According to data from MarketBeat, Aclaris Therapeutics has a consensus rating of “Buy” and a consensus price target of $11.33.

Aclaris Therapeutics Price Performance

The company’s 50-day moving average price is $5.79 and its two-hundred day moving average price is $4.83. The company has a market capitalization of $755.03 million, a P/E ratio of -9.31 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The business had revenue of $1.63 million for the quarter, compared to analyst estimates of $1.38 million. Aclaris Therapeutics had a negative net margin of 921.50% and a negative return on equity of 61.65%. On average, analysts anticipate that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aclaris Therapeutics

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Aclaris Therapeutics by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 207,024 shares of the biotechnology company’s stock worth $776,000 after acquiring an additional 3,507 shares during the period. ProShare Advisors LLC boosted its holdings in Aclaris Therapeutics by 45.4% in 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. AXQ Capital LP boosted its holdings in Aclaris Therapeutics by 73.1% in the 4th quarter. AXQ Capital LP now owns 24,186 shares of the biotechnology company’s stock valued at $73,000 after purchasing an additional 10,217 shares during the period. Wellington Management Group LLP grew its position in shares of Aclaris Therapeutics by 4.0% during the 2nd quarter. Wellington Management Group LLP now owns 267,498 shares of the biotechnology company’s stock worth $1,415,000 after purchasing an additional 10,342 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Aclaris Therapeutics during the 2nd quarter worth approximately $58,000. 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.