Acelyrin (NASDAQ:SLRN) Price Target Lowered to $6.00 at HC Wainwright

Acelyrin (NASDAQ:SLRN) had its price target reduced by HC Wainwright from $8.00 to $6.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Wells Fargo & Company cut their price target on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Acelyrin has an average rating of “Hold” and a consensus target price of $9.60.

Acelyrin Stock Performance

Shares of SLRN stock opened at $2.20 on Tuesday. Acelyrin has a fifty-two week low of $1.91 and a fifty-two week high of $8.89. The firm has a market capitalization of $220.72 million, a PE ratio of -0.89 and a beta of 1.94. The stock’s 50-day simple moving average is $4.39 and its 200-day simple moving average is $4.89.

Hedge Funds Weigh In On Acelyrin

Several institutional investors and hedge funds have recently modified their holdings of SLRN. Millennium Management LLC raised its position in Acelyrin by 15.7% during the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock valued at $20,471,000 after acquiring an additional 628,528 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Acelyrin by 30.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company’s stock worth $8,144,000 after purchasing an additional 388,631 shares during the period. Almitas Capital LLC purchased a new position in shares of Acelyrin during the 2nd quarter valued at approximately $1,659,000. Acuta Capital Partners LLC acquired a new position in shares of Acelyrin in the 3rd quarter valued at $1,795,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Acelyrin by 81.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 609,678 shares of the company’s stock valued at $3,006,000 after purchasing an additional 273,604 shares during the period. Institutional investors and hedge funds 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.