Acelyrin, Inc. (NASDAQ:SLRN) Receives Average Recommendation of “Moderate Buy” from Analysts

Acelyrin, Inc. (NASDAQ:SLRN) has been given an average recommendation of “Moderate Buy” by the six brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $10.83.

SLRN has been the topic of several research reports. Wells Fargo & Company raised shares of Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a research report on Monday, July 8th. Morgan Stanley dropped their target price on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, August 19th. HC Wainwright cut Acelyrin from a “buy” rating to a “neutral” rating and reduced their price target for the company from $18.00 to $6.00 in a research report on Wednesday, August 14th. Finally, Piper Sandler dropped their price objective on Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th.

Acelyrin Price Performance

Shares of NASDAQ:SLRN opened at $4.97 on Friday. The company has a market capitalization of $492.16 million, a PE ratio of -2.09 and a beta of 2.34. Acelyrin has a 1 year low of $3.36 and a 1 year high of $12.37. The business has a fifty day moving average price of $5.29 and a two-hundred day moving average price of $5.42.

Acelyrin (NASDAQ:SLRN) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same period last year, the company earned ($0.56) EPS. Sell-side analysts anticipate that Acelyrin will post -3.08 earnings per share for the current year.

Hedge Funds Weigh In On Acelyrin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLRN. Ameritas Investment Partners Inc. increased its stake in Acelyrin by 118.0% in the first quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock valued at $49,000 after acquiring an additional 3,921 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Acelyrin by 608.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,716 shares of the company’s stock valued at $80,000 after buying an additional 9,203 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Acelyrin in the 2nd quarter worth approximately $49,000. SG Americas Securities LLC purchased a new stake in Acelyrin in the second quarter worth approximately $51,000. Finally, New York State Common Retirement Fund grew its position in Acelyrin by 84.4% during the fourth quarter. New York State Common Retirement Fund now owns 13,181 shares of the company’s stock valued at $98,000 after acquiring an additional 6,032 shares during the last quarter. 87.31% of the stock is currently owned by hedge funds and other institutional investors.

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.