Acelyrin (NASDAQ:SLRN) Shares Gap Up to $4.60

Acelyrin, Inc. (NASDAQ:SLRN) gapped up before the market opened on Thursday . The stock had previously closed at $4.60, but opened at $4.86. Acelyrin shares last traded at $5.25, with a volume of 374,585 shares.

Analyst Upgrades and Downgrades

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

Acelyrin Stock Performance

The business’s fifty day moving average price is $5.27 and its two-hundred day moving average price is $5.29.

Acelyrin (NASDAQ:SLRN) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). During the same period in the prior year, the business earned ($0.56) earnings per share. On average, sell-side analysts forecast that Acelyrin, Inc. will post -3.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Acelyrin

A number of institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC increased its position in Acelyrin by 158.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 90,022 shares of the company’s stock worth $397,000 after buying an additional 55,141 shares during the period. Almitas Capital LLC bought a new position in shares of Acelyrin during the 2nd quarter valued at about $1,659,000. Susquehanna Fundamental Investments LLC bought a new stake in Acelyrin during the 2nd quarter worth approximately $706,000. Blue Owl Capital Holdings LP raised its holdings in Acelyrin by 3.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company’s stock worth $12,904,000 after buying an additional 100,000 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Acelyrin by 16.3% in the second quarter. The Manufacturers Life Insurance Company now owns 29,769 shares of the company’s stock valued at $131,000 after buying an additional 4,163 shares in the last quarter. Institutional investors 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.