Acelyrin’s (SLRN) Neutral Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Acelyrin (NASDAQ:SLRN) in a research note published on Wednesday,Benzinga reports. HC Wainwright currently has a $8.00 price target on the stock.

Several other analysts have also recently issued reports on the stock. 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 report on Monday, August 19th. Wells Fargo & Company increased their price target on shares of Acelyrin from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, Piper Sandler lowered their price objective on Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th.

Acelyrin Stock Performance

Shares of SLRN opened at $3.23 on Wednesday. The stock has a 50-day moving average price of $5.21 and a 200 day moving average price of $5.00. Acelyrin has a one year low of $3.14 and a one year high of $8.89. The company has a market capitalization of $324.07 million, a P/E ratio of -1.31 and a beta of 1.61.

Institutional Trading of Acelyrin

Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC bought a new stake in shares of Acelyrin during the 2nd quarter valued at about $590,000. Almitas Capital LLC bought a new position in shares of Acelyrin during the second quarter valued at approximately $1,659,000. Los Angeles Capital Management LLC acquired a new stake in shares of Acelyrin during the 2nd quarter worth approximately $693,000. Acuta Capital Partners LLC bought a new stake in shares of Acelyrin in the 3rd quarter worth approximately $1,795,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Acelyrin by 566.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 250,300 shares of the company’s stock worth $1,234,000 after purchasing an additional 212,758 shares during the last quarter. 87.31% of the stock is owned by institutional investors and hedge funds.

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.