Acelyrin (NASDAQ:SLRN) Trading Up 4.8% After Analyst Upgrade

Acelyrin, Inc. (NASDAQ:SLRN) shot up 4.8% on Thursday after Wells Fargo & Company raised their price target on the stock from $13.00 to $15.00. Wells Fargo & Company currently has an overweight rating on the stock. Acelyrin traded as high as $6.37 and last traded at $6.37. 439,033 shares traded hands during trading, a decline of 59% from the average session volume of 1,077,414 shares. The stock had previously closed at $6.08.

Other equities analysts have also recently issued reports about the company. Morgan Stanley lowered their price target on 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 objective on Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Finally, HC Wainwright lowered 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 research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.17.

Hedge Funds Weigh In On Acelyrin

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Acelyrin by 1.3% in the first quarter. Vanguard Group Inc. now owns 6,237,543 shares of the company’s stock valued at $42,103,000 after purchasing an additional 81,633 shares during the last quarter. Millennium Management LLC lifted its stake in 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 during the last quarter. Blue Owl Capital Holdings LP lifted its holdings in shares of Acelyrin by 3.5% in the 2nd quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company’s stock worth $12,904,000 after purchasing an additional 100,000 shares during the last quarter. StemPoint Capital LP grew its stake in Acelyrin by 21.7% during the 1st quarter. StemPoint Capital LP now owns 714,773 shares of the company’s stock worth $4,825,000 after buying an additional 127,400 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Acelyrin in the first quarter worth $3,961,000. 87.31% of the stock is owned by institutional investors and hedge funds.

Acelyrin Trading Up 6.6 %

The company’s 50-day moving average is $4.87 and its two-hundred day moving average is $4.94. The stock has a market capitalization of $646.77 million, a P/E ratio of -2.28 and a beta of 2.33.

Acelyrin (NASDAQ:SLRN) last posted its quarterly earnings data 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 quarter last year, the company posted ($0.56) EPS. Sell-side analysts expect that Acelyrin, Inc. will post -3.08 EPS for the current fiscal year.

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.