Acelyrin (NASDAQ:SLRN) Shares Gap Up to $4.60

Acelyrin, Inc. (NASDAQ:SLRN)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $4.60, but opened at $4.86. Acelyrin shares last traded at $5.25, with a volume of 374,585 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SLRN shares. Wells Fargo & Company upgraded shares of Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a research note on Monday, July 8th. Piper Sandler decreased 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. Morgan Stanley reduced their price objective on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, HC Wainwright cut Acelyrin from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $6.00 in a report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Acelyrin Stock Up 1.7 %

The stock’s 50 day moving average price is $5.26 and its 200-day moving average price is $5.27. The stock has a market capitalization of $537.98 million, a PE ratio of -2.26 and a beta of 2.34.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jump Financial LLC boosted its position in shares of Acelyrin by 152.7% during the fourth quarter. Jump Financial LLC now owns 49,500 shares of the company’s stock worth $369,000 after acquiring an additional 29,908 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Acelyrin during the fourth quarter valued at approximately $108,000. Decheng Capital LLC purchased a new position in Acelyrin during the 4th quarter valued at approximately $10,227,000. Capstone Investment Advisors LLC bought a new stake in Acelyrin in the 4th quarter worth approximately $204,000. Finally, Sectoral Asset Management Inc. purchased a new stake in shares of Acelyrin during the 4th quarter worth approximately $2,429,000. 87.31% of the stock is currently owned by institutional investors.

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.