Ghisallo Capital Management LLC Lowers Holdings in Acelyrin, Inc. (NASDAQ:SLRN)

Ghisallo Capital Management LLC reduced its holdings in shares of Acelyrin, Inc. (NASDAQ:SLRN) by 50.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,500 shares of the company’s stock after selling 17,500 shares during the period. Ghisallo Capital Management LLC’s holdings in Acelyrin were worth $77,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Almitas Capital LLC acquired a new position in Acelyrin during the 2nd quarter worth approximately $1,659,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Acelyrin in the 2nd quarter valued at $706,000. Blue Owl Capital Holdings LP raised its stake 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 acquiring an additional 100,000 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position 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 acquiring an additional 4,163 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Acelyrin by 15.7% during the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock worth $20,471,000 after purchasing an additional 628,528 shares in the last quarter. 87.31% of the stock is currently owned by institutional investors and hedge funds.

Acelyrin Stock Up 3.2 %

SLRN opened at $5.09 on Wednesday. The firm has a market cap of $508.03 million, a P/E ratio of -2.14 and a beta of 2.34. The business’s fifty day simple moving average is $5.01 and its 200 day simple moving average is $5.07. Acelyrin, Inc. has a 52 week low of $3.36 and a 52 week high of $10.70.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on SLRN. 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. Wells Fargo & Company raised Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a report on Monday, July 8th. Piper Sandler dropped their price objective on Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Finally, Morgan Stanley reduced their target price on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.83.

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.