Intech Investment Management LLC Purchases New Position in Acelyrin, Inc. (NASDAQ:SLRN)

Intech Investment Management LLC acquired a new stake in Acelyrin, Inc. (NASDAQ:SLRN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 15,547 shares of the company’s stock, valued at approximately $77,000.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. bought a new stake in Acelyrin during the second quarter valued at approximately $49,000. SG Americas Securities LLC purchased a new stake in shares of Acelyrin in the 2nd quarter valued at $51,000. Nisa Investment Advisors LLC grew its holdings in shares of Acelyrin by 58,570.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock valued at $62,000 after purchasing an additional 14,057 shares during the last quarter. US Bancorp DE boosted its position in Acelyrin by 77.1% during the third quarter. US Bancorp DE now owns 16,854 shares of the company’s stock valued at $83,000 after buying an additional 7,336 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Acelyrin by 65.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 19,196 shares of the company’s stock worth $95,000 after buying an additional 7,560 shares during the period. 87.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley lowered their price objective on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Wells Fargo & Company raised their target price on shares of Acelyrin from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Piper Sandler reduced their price target on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Finally, HC Wainwright upped their price target on Acelyrin from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th.

Acelyrin Stock Up 1.0 %

Shares of SLRN opened at $4.25 on Monday. Acelyrin, Inc. has a 52 week low of $3.36 and a 52 week high of $8.89. The business’s 50 day moving average price is $5.30 and its 200-day moving average price is $5.02. The stock has a market cap of $426.39 million, a P/E ratio of -1.73 and a beta of 1.61.

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.