Citigroup Has Lowered Expectations for Acelyrin (NASDAQ:SLRN) Stock Price

Acelyrin (NASDAQ:SLRN) had its target price decreased by analysts at Citigroup from $6.00 to $3.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would indicate a potential upside of 40.19% from the stock’s previous close.

Several other analysts have also weighed in on the company. HC Wainwright decreased their price target on Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Tuesday. Wells Fargo & Company reduced their target price on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.60.

Acelyrin Price Performance

Shares of NASDAQ SLRN opened at $2.14 on Tuesday. Acelyrin has a 1-year low of $1.91 and a 1-year high of $8.89. The business’s 50 day moving average is $4.23 and its two-hundred day moving average is $4.86. The stock has a market capitalization of $214.70 million, a P/E ratio of -0.87 and a beta of 1.94.

Hedge Funds Weigh In On Acelyrin

Hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in shares of Acelyrin by 16.3% during the second quarter. The Manufacturers Life Insurance Company now owns 29,769 shares of the company’s stock valued at $131,000 after purchasing an additional 4,163 shares during the period. US Bancorp DE boosted its position in Acelyrin by 77.1% in the 3rd quarter. US Bancorp DE now owns 16,854 shares of the company’s stock valued at $83,000 after buying an additional 7,336 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Acelyrin by 65.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,196 shares of the company’s stock worth $95,000 after acquiring an additional 7,560 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Acelyrin during the third quarter worth approximately $50,000. Finally, HighTower Advisors LLC bought a new stake in shares of Acelyrin during the third quarter valued at approximately $50,000. Institutional investors own 87.31% of the company’s stock.

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.