The Manufacturers Life Insurance Company Acquires 4,163 Shares of Acelyrin, Inc. (NASDAQ:SLRN)

The Manufacturers Life Insurance Company lifted its holdings in Acelyrin, Inc. (NASDAQ:SLRN) by 16.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,769 shares of the company’s stock after purchasing an additional 4,163 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Acelyrin were worth $131,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Blair William & Co. IL bought a new stake in Acelyrin during the 1st quarter worth about $936,000. Acadian Asset Management LLC bought a new stake in Acelyrin during the second quarter worth about $590,000. Jacobs Levy Equity Management Inc. bought a new position in Acelyrin in the first quarter valued at approximately $3,961,000. Los Angeles Capital Management LLC acquired a new position in shares of Acelyrin during the 2nd quarter worth approximately $693,000. Finally, Vanguard Group Inc. increased its position in shares of Acelyrin by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 6,237,543 shares of the company’s stock worth $42,103,000 after purchasing an additional 81,633 shares during the last quarter. Institutional investors and hedge funds own 87.31% of the company’s stock.

Analyst Ratings Changes

SLRN has been the subject of several analyst reports. HC Wainwright cut shares of Acelyrin from a “buy” rating to a “neutral” rating and decreased their target price for the company from $18.00 to $6.00 in a research note on Wednesday, August 14th. Morgan Stanley decreased 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 report on Monday, August 19th. Piper Sandler dropped their target price on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, August 14th. Finally, Wells Fargo & Company lifted their price target on Acelyrin from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Acelyrin has a consensus rating of “Moderate Buy” and an average price target of $11.17.

Acelyrin Price Performance

SLRN opened at $6.20 on Friday. The business has a fifty day simple moving average of $4.89 and a 200 day simple moving average of $4.93. Acelyrin, Inc. has a 1 year low of $3.36 and a 1 year high of $10.70. The company has a market capitalization of $618.82 million, a PE ratio of -2.18 and a beta of 2.33.

Acelyrin (NASDAQ:SLRN) last announced its earnings results on Tuesday, August 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). During the same quarter in the prior year, the company earned ($0.56) EPS. Equities analysts anticipate that Acelyrin, Inc. will post -3.08 earnings per share for the current fiscal year.

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.