HC Wainwright Issues Pessimistic Forecast for Acelyrin (NASDAQ:SLRN) Stock Price

Acelyrin (NASDAQ:SLRN) had its price target reduced by analysts at HC Wainwright from $8.00 to $6.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. HC Wainwright’s target price points to a potential upside of 71.92% from the stock’s current price.

Separately, Wells Fargo & Company lowered their target price on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 11th.

Acelyrin Price Performance

Acelyrin stock opened at $3.49 on Tuesday. The firm has a market capitalization of $350.14 million, a P/E ratio of -1.42 and a beta of 1.94. Acelyrin has a one year low of $3.05 and a one year high of $8.89. The business has a fifty day moving average price of $4.45 and a 200-day moving average price of $4.90.

Institutional Trading of Acelyrin

A number of large investors have recently modified their holdings of SLRN. Millennium Management LLC raised its stake in Acelyrin by 15.7% in the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock valued at $20,471,000 after purchasing an additional 628,528 shares in the last quarter. Blue Owl Capital Holdings LP raised its position in shares of Acelyrin by 3.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company’s stock valued at $12,904,000 after buying an additional 100,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 388,631 shares during the last quarter. State Street Corp grew its position in Acelyrin by 10.0% in the third quarter. State Street Corp now owns 1,273,096 shares of the company’s stock worth $6,276,000 after acquiring an additional 116,094 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Acelyrin by 81.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 609,678 shares of the company’s stock valued at $3,006,000 after acquiring an additional 273,604 shares during the last quarter. Institutional investors 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.