Acelyrin’s (SLRN) “Neutral” Rating Reiterated at HC Wainwright

Acelyrin (NASDAQ:SLRN)‘s stock had its “neutral” rating reissued by stock analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $8.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 125.99% from the stock’s current price.

A number of other research firms have also issued reports on SLRN. Piper Sandler dropped their target price on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Wells Fargo & Company raised their price target on shares of Acelyrin from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley dropped their price objective on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th.

Acelyrin Stock Performance

Shares of SLRN opened at $3.54 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 $3.18 and a one year high of $8.89. The stock has a market capitalization of $355.15 million, a price-to-earnings ratio of -1.44 and a beta of 1.61.

Institutional Trading of Acelyrin

Several large investors have recently added to or reduced their stakes in SLRN. Millennium Management LLC raised its holdings in shares of Acelyrin by 15.7% during the 2nd quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock worth $20,471,000 after acquiring an additional 628,528 shares during the period. Geode Capital Management LLC grew its holdings in shares of Acelyrin by 30.8% in the third quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company’s stock valued at $8,144,000 after purchasing an additional 388,631 shares during the period. Almitas Capital LLC acquired a new stake in Acelyrin during the second quarter worth about $1,659,000. Acuta Capital Partners LLC purchased a new position in Acelyrin during the third quarter worth about $1,795,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in 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 last quarter. 87.31% of the stock is currently owned by hedge funds and other 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.