HC Wainwright Lowers Acelyrin (NASDAQ:SLRN) Price Target to $6.00

Acelyrin (NASDAQ:SLRN) had its target price reduced by HC Wainwright from $8.00 to $6.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 180.37% from the company’s previous close.

Separately, Wells Fargo & Company cut their price target on Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Acelyrin has an average rating of “Hold” and an average target price of $9.60.

Acelyrin Trading Down 2.7 %

NASDAQ SLRN opened at $2.14 on Tuesday. Acelyrin has a 12 month low of $1.91 and a 12 month high of $8.89. The stock has a market cap of $214.70 million, a PE ratio of -0.87 and a beta of 1.94. The stock’s 50 day moving average is $4.23 and its 200 day moving average is $4.86.

Institutional Investors Weigh In On Acelyrin

A number of institutional investors have recently added to or reduced their stakes in SLRN. Millennium Management LLC grew its holdings in Acelyrin by 15.7% in the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock worth $20,471,000 after purchasing an additional 628,528 shares during the last quarter. Blue Owl Capital Holdings LP grew its stake in Acelyrin by 3.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company’s stock worth $12,904,000 after buying an additional 100,000 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 buying an additional 388,631 shares during the last quarter. State Street Corp increased its position in Acelyrin by 10.0% during the 3rd quarter. State Street Corp now owns 1,273,096 shares of the company’s stock valued at $6,276,000 after buying an additional 116,094 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised 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 buying an additional 273,604 shares during the last quarter. Institutional investors own 87.31% of the company’s stock.

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.