Wells Fargo & Company Cuts Acelyrin (NASDAQ:SLRN) Price Target to $13.00

Acelyrin (NASDAQ:SLRN) had its price target trimmed by Wells Fargo & Company from $15.00 to $13.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also issued reports on SLRN. HC Wainwright reissued a “neutral” rating and issued a $8.00 target price on shares of Acelyrin in a report on Wednesday. Piper Sandler reduced their price objective on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Finally, Morgan Stanley lowered their target price on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th.

Acelyrin Price Performance

Shares of SLRN opened at $3.23 on Wednesday. The business has a fifty day moving average of $5.21 and a 200 day moving average of $5.00. The firm has a market capitalization of $324.07 million, a P/E ratio of -1.31 and a beta of 1.61. Acelyrin has a one year low of $3.14 and a one year high of $8.89.

Institutional Investors Weigh In On Acelyrin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC grew its position in Acelyrin by 15.7% in the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock worth $20,471,000 after acquiring an additional 628,528 shares in the last quarter. Blue Owl Capital Holdings LP increased its stake in shares of Acelyrin by 3.5% during the second quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company’s stock valued at $12,904,000 after buying an additional 100,000 shares during the period. Geode Capital Management LLC raised its holdings in shares of Acelyrin by 30.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company’s stock valued at $8,144,000 after purchasing an additional 388,631 shares in the last quarter. State Street Corp raised its stake in Acelyrin by 10.0% in the third quarter. State Street Corp now owns 1,273,096 shares of the company’s stock worth $6,276,000 after buying an additional 116,094 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Acelyrin by 81.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 609,678 shares of the company’s stock worth $3,006,000 after purchasing an additional 273,604 shares during 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.