JPMorgan Chase & Co. Cuts Stake in Acelyrin, Inc. (NASDAQ:SLRN)

JPMorgan Chase & Co. lowered its stake in shares of Acelyrin, Inc. (NASDAQ:SLRN) by 67.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 850,661 shares of the company’s stock after selling 1,747,642 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.85% of Acelyrin worth $4,194,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of Acelyrin by 22.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 223,395 shares of the company’s stock valued at $985,000 after acquiring an additional 41,058 shares during the period. Rhumbline Advisers lifted its stake in Acelyrin by 25.3% in the second quarter. Rhumbline Advisers now owns 108,384 shares of the company’s stock valued at $478,000 after purchasing an additional 21,859 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Acelyrin by 218.0% during the second quarter. Renaissance Technologies LLC now owns 397,618 shares of the company’s stock valued at $1,753,000 after purchasing an additional 272,600 shares during the period. XTX Topco Ltd bought a new position in Acelyrin during the second quarter valued at $191,000. Finally, Cubist Systematic Strategies LLC increased its position in Acelyrin by 158.1% in the second quarter. Cubist Systematic Strategies LLC now owns 90,022 shares of the company’s stock worth $397,000 after buying an additional 55,141 shares during the last quarter. Hedge funds and other institutional investors own 87.31% of the company’s stock.

Acelyrin Price Performance

Acelyrin stock opened at $1.99 on Friday. The firm has a market capitalization of $199.66 million, a P/E ratio of -0.81 and a beta of 1.94. Acelyrin, Inc. has a one year low of $1.91 and a one year high of $8.89. The business has a fifty day moving average price of $3.70 and a 200-day moving average price of $4.76.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SLRN shares. HC Wainwright dropped their price target on Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Wells Fargo & Company dropped their price objective on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, December 11th. Finally, Citigroup cut their target price on shares of Acelyrin from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.60.

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.