Aclaris Therapeutics (NASDAQ:ACRS) Shares Down 10.2%

Aclaris Therapeutics Inc (NASDAQ:ACRS)’s stock price traded down 10.2% during mid-day trading on Wednesday . The stock traded as low as $1.21 and last traded at $1.23, 767,115 shares traded hands during trading. A decline of 16% from the average session volume of 911,182 shares. The stock had previously closed at $1.37.

Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Aclaris Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Svb Leerink reiterated an “outperform” rating on shares of Aclaris Therapeutics in a report on Thursday, January 2nd. Finally, ValuEngine upgraded shares of Aclaris Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $6.67.

The firm has a market capitalization of $59.19 million, a price-to-earnings ratio of -0.28 and a beta of 1.06. The stock has a fifty day moving average of $1.55 and a two-hundred day moving average of $1.49. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.73 and a quick ratio of 3.73.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in Aclaris Therapeutics by 18.3% in the fourth quarter. Geode Capital Management LLC now owns 581,183 shares of the biotechnology company’s stock valued at $1,098,000 after purchasing an additional 90,067 shares during the period. EcoR1 Capital LLC acquired a new stake in Aclaris Therapeutics in the fourth quarter valued at $3,945,000. Jacobs Levy Equity Management Inc. acquired a new stake in Aclaris Therapeutics in the fourth quarter valued at $210,000. Bank of New York Mellon Corp increased its holdings in Aclaris Therapeutics by 76.9% in the fourth quarter. Bank of New York Mellon Corp now owns 219,779 shares of the biotechnology company’s stock valued at $415,000 after purchasing an additional 95,527 shares during the period. Finally, UBS Group AG increased its holdings in Aclaris Therapeutics by 317.4% in the fourth quarter. UBS Group AG now owns 37,806 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 28,749 shares during the period. Institutional investors and hedge funds own 74.49% of the company’s stock.

About Aclaris Therapeutics (NASDAQ:ACRS)

Aclaris Therapeutics, Inc, a biopharmaceutical company, focuses on identifying, developing, and commercializing various therapies for dermatological and immuno-inflammatory diseases in the United States. It operates in two segments, Dermatology Therapeutics and Contract Research. The company offers ESKATA, a formulation of high-concentration hydrogen peroxide topical solution for raised seborrheic keratosis, a common non-malignant skin tumor; and RHOFADE, an oxymetazoline hydrochloride cream.

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