Acelyrin (NASDAQ:SLRN) Price Target Raised to $8.00

Acelyrin (NASDAQ:SLRN) had its price objective increased by HC Wainwright from $6.00 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts also recently weighed in on the stock. Piper Sandler lowered their price target on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Wells Fargo & Company boosted their target price on Acelyrin from $13.00 to $15.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley dropped their target price on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.50.

Acelyrin Stock Performance

SLRN stock opened at $4.69 on Thursday. Acelyrin has a one year low of $3.36 and a one year high of $9.20. The company has a market capitalization of $470.55 million, a PE ratio of -1.91 and a beta of 1.98. The company’s 50 day moving average price is $5.41 and its two-hundred day moving average price is $5.02.

Hedge Funds Weigh In On Acelyrin

Several hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. increased its holdings in Acelyrin by 118.0% during 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 period. Principal Financial Group Inc. bought a new stake in shares of Acelyrin in the 2nd quarter worth approximately $49,000. HighTower Advisors LLC purchased a new position in shares of Acelyrin during the third quarter valued at approximately $50,000. SG Americas Securities LLC bought a new position in shares of Acelyrin during the second quarter valued at approximately $51,000. Finally, Nisa Investment Advisors LLC raised 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 valued at $62,000 after acquiring an additional 14,057 shares in the last quarter. 87.31% of the stock is owned by institutional investors.

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.