Acelyrin, Inc. (NASDAQ:SLRN) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Acelyrin, Inc. (NASDAQ:SLRN) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Three 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 target among brokers that have covered the stock in the last year is $10.83.

SLRN has been the topic of several recent analyst reports. Morgan Stanley cut their target price on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company raised Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective for the company in a report on Monday, July 8th. Piper Sandler dropped their target price on Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Finally, HC Wainwright cut shares of Acelyrin from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $18.00 to $6.00 in a research note on Wednesday, August 14th.

Acelyrin Price Performance

SLRN stock opened at $5.09 on Thursday. The company has a market cap of $508.03 million, a P/E ratio of -2.14 and a beta of 2.34. The firm has a 50-day moving average of $4.98 and a 200 day moving average of $5.07. Acelyrin has a 1 year low of $3.36 and a 1 year high of $10.70.

Acelyrin (NASDAQ:SLRN) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). During the same period last year, the firm posted ($0.56) EPS. On average, equities research analysts expect that Acelyrin will post -3.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acelyrin

Hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. lifted its stake in shares of Acelyrin by 118.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock valued at $49,000 after purchasing an additional 3,921 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Acelyrin by 16.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,769 shares of the company’s stock worth $131,000 after purchasing an additional 4,163 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Acelyrin by 66.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company’s stock worth $126,000 after purchasing an additional 7,459 shares during the period. ProShare Advisors LLC raised its holdings in shares of Acelyrin by 69.9% in the first quarter. ProShare Advisors LLC now owns 19,871 shares of the company’s stock worth $134,000 after buying an additional 8,176 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Acelyrin during the 2nd quarter valued at $49,000. Hedge funds and other 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.