Fmr LLC Trims Holdings in Acelyrin, Inc. (NASDAQ:SLRN)

Fmr LLC lowered its position in shares of Acelyrin, Inc. (NASDAQ:SLRN) by 97.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,748 shares of the company’s stock after selling 4,596,424 shares during the quarter. Fmr LLC’s holdings in Acelyrin were worth $580,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SLRN. SG Americas Securities LLC bought a new stake in shares of Acelyrin during the 2nd quarter valued at $51,000. Nisa Investment Advisors LLC increased its stake in Acelyrin by 58,570.8% in the 2nd 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. Bank of New York Mellon Corp raised its holdings in Acelyrin by 22.5% during the second quarter. Bank of New York Mellon Corp now owns 223,395 shares of the company’s stock valued at $985,000 after acquiring an additional 41,058 shares during the period. Principal Financial Group Inc. bought a new stake in Acelyrin during the second quarter valued at about $49,000. Finally, Rhumbline Advisers lifted its position in shares of Acelyrin by 25.3% in the second quarter. Rhumbline Advisers now owns 108,384 shares of the company’s stock valued at $478,000 after acquiring an additional 21,859 shares in the last quarter. 87.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Wednesday, December 11th. HC Wainwright reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Acelyrin in a report on Wednesday, December 11th.

Acelyrin Stock Down 6.6 %

SLRN opened at $3.27 on Thursday. The company has a market capitalization of $328.07 million, a PE ratio of -1.33 and a beta of 1.61. The firm has a 50-day simple moving average of $5.10 and a two-hundred day simple moving average of $4.99. Acelyrin, Inc. has a 52 week low of $3.14 and a 52 week high of $8.89.

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.