Aclaris Therapeutics (NASDAQ:ACRS) Shares Pass Above 50 Day Moving Average – Time to Sell?

Aclaris Therapeutics, Inc. (NASDAQ:ACRS)’s stock price crossed 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ACRS. HC Wainwright reissued a “neutral” rating on shares of Aclaris Therapeutics in a report on Tuesday, September 17th. StockNews.com raised Aclaris Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, July 25th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.00.

Aclaris Therapeutics Stock Up 31.0 %

The company has a fifty day moving average price of $1.19 and a 200-day moving average price of $1.20. The stock has a market capitalization of $120.44 million, a P/E ratio of -1.55 and a beta of 0.20.

Aclaris Therapeutics (NASDAQ:ACRS) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.04. Aclaris Therapeutics had a negative return on equity of 53.18% and a negative net margin of 183.28%. The firm had revenue of $2.77 million for the quarter, compared to analysts’ expectations of $1.74 million. As a group, research analysts expect that Aclaris Therapeutics, Inc. will post -0.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Braden Michael Leonard purchased 173,730 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was bought at an average price of $1.30 per share, for a total transaction of $225,849.00. Following the completion of the transaction, the insider now owns 13,776,421 shares in the company, valued at approximately $17,909,347.30. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Stonepine Capital Management LLC purchased a new position in shares of Aclaris Therapeutics during the second quarter valued at approximately $2,120,000. Trium Capital LLP purchased a new position in shares of Aclaris Therapeutics during the second quarter valued at approximately $2,081,000. Russell Investments Group Ltd. boosted its position in shares of Aclaris Therapeutics by 5,265.1% during the first 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 period. BNP Paribas Financial Markets boosted its position in shares of Aclaris Therapeutics by 10.9% during the first quarter. BNP Paribas Financial Markets now owns 241,101 shares of the biotechnology company’s stock valued at $299,000 after buying an additional 23,747 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Aclaris Therapeutics by 4.4% during the first quarter. Vanguard Group Inc. now owns 4,929,775 shares of the biotechnology company’s stock valued at $6,113,000 after buying an additional 207,418 shares during the period. Hedge funds and other institutional investors 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.