Charles Schwab Investment Management Inc. Has $3.01 Million Stock Position in Acelyrin, Inc. (NASDAQ:SLRN)

Charles Schwab Investment Management Inc. grew its stake in Acelyrin, Inc. (NASDAQ:SLRN) by 81.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 609,678 shares of the company’s stock after buying an additional 273,604 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Acelyrin were worth $3,006,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new position in Acelyrin in the 2nd quarter worth $49,000. SG Americas Securities LLC acquired a new position in shares of Acelyrin during the second quarter worth about $51,000. Nisa Investment Advisors LLC grew its holdings in shares of Acelyrin by 58,570.8% during the second quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock worth $62,000 after buying an additional 14,057 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Acelyrin during the third quarter worth about $77,000. Finally, US Bancorp DE raised 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 last quarter. Institutional investors own 87.31% of the company’s stock.

Acelyrin Stock Down 8.8 %

Shares of Acelyrin stock opened at $3.23 on Friday. The stock has a market cap of $324.07 million, a P/E ratio of -1.31 and a beta of 1.61. Acelyrin, Inc. has a 12-month low of $3.14 and a 12-month high of $8.89. The business’s 50 day moving average is $5.17 and its 200-day moving average is $4.99.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday. HC Wainwright reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Acelyrin in a research report on Wednesday. Finally, Morgan Stanley cut their price target on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th.

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.