Aclaris Therapeutics (NASDAQ:ACRS) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty 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 trading hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of Aclaris Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 8th. Leerink Partners upgraded Aclaris Therapeutics from a “market perform” rating to an “outperform” rating and upped their target price for the company from $2.00 to $7.00 in a research report on Tuesday, November 19th. HC Wainwright upgraded Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, December 23rd. Leerink Partnrs upgraded Aclaris Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, BTIG Research upgraded shares of Aclaris Therapeutics from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.67.

Aclaris Therapeutics Trading Down 1.9 %

The firm’s 50-day moving average is $2.22 and its 200-day moving average is $2.21. The firm has a market cap of $167.27 million, a price-to-earnings ratio of -2.98 and a beta of 0.48.

Institutional Investors Weigh In On Aclaris Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ACRS. ExodusPoint Capital Management LP acquired a new position in Aclaris Therapeutics during the 4th quarter valued at about $26,000. Invesco Ltd. purchased a new position in shares of Aclaris Therapeutics during the fourth quarter valued at approximately $28,000. Graham Capital Management L.P. bought a new stake in Aclaris Therapeutics during the fourth quarter worth $35,000. Commonwealth Equity Services LLC purchased a new stake in Aclaris Therapeutics in the 4th quarter valued at $36,000. Finally, Alpine Global Management LLC bought a new position in Aclaris Therapeutics during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

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.