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

Acelyrin, Inc. (NASDAQ:SLRN) has received a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $11.50.

SLRN has been the subject of several research reports. Piper Sandler reduced their price objective on 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 increased their price target on Acelyrin from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Morgan Stanley cut their price objective on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th. Finally, HC Wainwright raised their target price on shares of Acelyrin from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th.

Acelyrin Stock Down 1.8 %

Shares of Acelyrin stock opened at $4.35 on Friday. The business has a fifty day simple moving average of $5.39 and a 200-day simple moving average of $5.03. Acelyrin has a fifty-two week low of $3.36 and a fifty-two week high of $8.89. The firm has a market cap of $436.44 million, a price-to-earnings ratio of -1.77 and a beta of 1.98.

Hedge Funds Weigh In On Acelyrin

Several large investors have recently bought and sold shares of SLRN. Russell Investments Group Ltd. acquired a new position in shares of Acelyrin during the first quarter valued at about $183,000. ProShare Advisors LLC lifted its position in shares of Acelyrin by 69.9% in the 1st quarter. ProShare Advisors LLC now owns 19,871 shares of the company’s stock worth $134,000 after acquiring an additional 8,176 shares during the period. Vanguard Group Inc. lifted its position in shares of Acelyrin by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 6,237,543 shares of the company’s stock worth $42,103,000 after acquiring an additional 81,633 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of Acelyrin by 118.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock worth $49,000 after purchasing an additional 3,921 shares in the last quarter. Finally, American International Group Inc. raised its stake in shares of Acelyrin by 117.3% in the first quarter. American International Group Inc. now owns 35,793 shares of the company’s stock valued at $242,000 after purchasing an additional 19,318 shares in the last quarter. 87.31% of the stock is currently owned by institutional investors and hedge funds.

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.