Principal Financial Group Inc. Acquires Shares of 11,038 Acelyrin, Inc. (NASDAQ:SLRN)

Principal Financial Group Inc. acquired a new position in shares of Acelyrin, Inc. (NASDAQ:SLRN) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,038 shares of the company’s stock, valued at approximately $49,000.

A number of other institutional investors also recently made changes to their positions in SLRN. Jump Financial LLC grew its stake in Acelyrin by 152.7% in the fourth quarter. Jump Financial LLC now owns 49,500 shares of the company’s stock worth $369,000 after purchasing an additional 29,908 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Acelyrin during the 4th quarter worth approximately $108,000. Decheng Capital LLC acquired a new position in shares of Acelyrin in the 4th quarter worth approximately $10,227,000. Capstone Investment Advisors LLC bought a new stake in shares of Acelyrin in the 4th quarter valued at approximately $204,000. Finally, Sectoral Asset Management Inc. acquired a new stake in shares of Acelyrin during the 4th quarter valued at approximately $2,429,000. 87.31% of the stock is owned by institutional investors and hedge funds.

Acelyrin Stock Performance

Shares of SLRN opened at $4.31 on Tuesday. Acelyrin, Inc. has a 1 year low of $3.36 and a 1 year high of $11.23. The firm has a fifty day moving average of $5.30 and a 200-day moving average of $5.32. The company has a market cap of $430.18 million, a price-to-earnings ratio of -1.81 and a beta of 2.34.

Acelyrin (NASDAQ:SLRN) last posted its 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 in the previous year, the company posted ($0.56) EPS. Analysts predict that Acelyrin, Inc. will post -3.08 EPS for the current year.

Wall Street Analyst Weigh In

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

Acelyrin 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.