Brokerages Set Acelyrin, Inc. (NASDAQ:SLRN) Price Target at $11.17

Acelyrin, Inc. (NASDAQ:SLRN) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $11.17.

SLRN has been the subject of several research analyst reports. Piper Sandler reduced 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. Morgan Stanley reduced their target price 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. HC Wainwright cut shares of Acelyrin from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $6.00 in a report on Wednesday, August 14th. Finally, Wells Fargo & Company increased their target price on shares of Acelyrin from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th.

Acelyrin Stock Performance

Shares of NASDAQ SLRN opened at $5.90 on Monday. The stock has a market cap of $584.26 million, a P/E ratio of -2.48 and a beta of 2.33. The firm has a 50 day moving average price of $5.16 and a 200 day moving average price of $4.94. Acelyrin has a 52-week low of $3.36 and a 52-week high of $10.50.

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

Institutional Trading of Acelyrin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Acelyrin by 77.1% during the third quarter. US Bancorp DE now owns 16,854 shares of the company’s stock worth $83,000 after acquiring an additional 7,336 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Acelyrin by 65.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,196 shares of the company’s stock worth $95,000 after buying an additional 7,560 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Acelyrin by 129.6% during the 3rd quarter. SG Americas Securities LLC now owns 26,755 shares of the company’s stock worth $132,000 after buying an additional 15,101 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Acelyrin by 158.1% during 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 last quarter. Finally, Almitas Capital LLC acquired a new stake in shares of Acelyrin during the 2nd quarter worth about $1,659,000. 87.31% of the stock is owned by institutional investors.

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.