Acelyrin (NASDAQ:SLRN) Trading Up 0.7%

Acelyrin, Inc. (NASDAQ:SLRN) shot up 0.7% on Wednesday . The company traded as high as $4.20 and last traded at $4.15. 211,575 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,086,957 shares. The stock had previously closed at $4.12.

Analyst Upgrades and Downgrades

SLRN has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Acelyrin from $11.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. HC Wainwright upped their price objective on Acelyrin from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.80.

Acelyrin Stock Performance

The company has a market capitalization of $410.97 million, a price-to-earnings ratio of -1.74 and a beta of 2.55. The business has a 50-day simple moving average of $4.31 and a two-hundred day simple moving average of $6.18.

Acelyrin (NASDAQ:SLRN) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.93) by $0.57. Research analysts predict that Acelyrin, Inc. will post -3.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Acelyrin

Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. boosted its holdings in shares of Acelyrin by 118.0% during the first quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock worth $49,000 after purchasing an additional 3,921 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Acelyrin by 608.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,716 shares of the company’s stock worth $80,000 after purchasing an additional 9,203 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Acelyrin during the fourth quarter worth $84,000. New York State Common Retirement Fund boosted its holdings in shares of Acelyrin by 84.4% during the fourth quarter. New York State Common Retirement Fund now owns 13,181 shares of the company’s stock worth $98,000 after purchasing an additional 6,032 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Acelyrin during the fourth quarter worth $108,000. Institutional investors and hedge funds own 87.31% of the company’s stock.

Acelyrin Company Profile

Acelyrin, Inc, a clinical biopharma company, focuses on identifying, acquiring, and accelerating the development and commercialization of transformative medicines. The company's lead product candidate is izokibep, a small protein therapeutic designed to inhibit IL-17A with high potency, which is in Phase 3 clinical trials for use in the treatment of Hidradenitis Suppurativa, Psoriatic Arthritis, and uveitis, as well as in Phase 2 clinical trials for use in the treatment of Axial Spondyloarthritis.