Los Angeles Capital Management LLC Takes Position in Acelyrin, Inc. (NASDAQ:SLRN)

Los Angeles Capital Management LLC bought a new stake in Acelyrin, Inc. (NASDAQ:SLRN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 157,093 shares of the company’s stock, valued at approximately $693,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its position in Acelyrin by 118.0% during the 1st 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. New York State Common Retirement Fund grew 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 buying an additional 6,032 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Acelyrin by 66.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock valued at $126,000 after acquiring an additional 7,459 shares during the period. ProShare Advisors LLC lifted its position in Acelyrin by 69.9% during the 1st quarter. ProShare Advisors LLC now owns 19,871 shares of the company’s stock worth $134,000 after acquiring an additional 8,176 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Acelyrin in the 2nd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 87.31% of the company’s stock.

Acelyrin Trading Down 5.4 %

SLRN stock opened at $4.70 on Friday. The company’s 50-day moving average price is $5.31 and its 200 day moving average price is $5.40. Acelyrin, Inc. has a 52 week low of $3.36 and a 52 week high of $11.83. The company has a market cap of $469.11 million, a P/E ratio of -1.97 and a beta of 2.34.

Acelyrin (NASDAQ:SLRN) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same period last year, the firm earned ($0.56) earnings per share. On average, equities research analysts expect that Acelyrin, Inc. will post -3.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Piper Sandler decreased their price target on Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Morgan Stanley lowered their target price on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. HC Wainwright cut shares of Acelyrin from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $6.00 in a report on Wednesday, August 14th. Finally, Wells Fargo & Company raised Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a report on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.83.

About Acelyrin

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.