Acelyrin (NASDAQ:SLRN) Shares Down 5.4%

Acelyrin, Inc. (NASDAQ:SLRN)’s stock price fell 5.4% during mid-day trading on Monday . The company traded as low as $5.05 and last traded at $5.10. 145,159 shares traded hands during trading, a decline of 87% from the average session volume of 1,119,182 shares. The stock had previously closed at $5.39.

Analyst Ratings Changes

SLRN has been the topic of several research reports. Piper Sandler decreased their target price on Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. HC Wainwright downgraded shares of Acelyrin from a “buy” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $6.00 in a report on Wednesday, August 14th. Morgan Stanley dropped their price target 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, Wells Fargo & Company upgraded Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a research report on Monday, July 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.83.

Acelyrin Stock Performance

The stock’s fifty day simple moving average is $5.26 and its two-hundred day simple moving average is $5.23. The stock has a market capitalization of $489.19 million, a P/E ratio of -2.12 and a beta of 2.34.

Acelyrin (NASDAQ:SLRN) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.08). During the same quarter last year, the business posted ($0.56) earnings per share. As a group, analysts expect that Acelyrin, Inc. will post -3.08 earnings per share for the current fiscal year.

Institutional Trading of Acelyrin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Acelyrin by 1.3% during the first quarter. Vanguard Group Inc. now owns 6,237,543 shares of the company’s stock worth $42,103,000 after purchasing an additional 81,633 shares during the period. Millennium Management LLC grew its stake in Acelyrin by 15.7% in the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock valued at $20,471,000 after acquiring an additional 628,528 shares during the period. Blue Owl Capital Holdings LP increased its holdings in shares of Acelyrin by 3.5% during the second quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company’s stock valued at $12,904,000 after acquiring an additional 100,000 shares in the last quarter. Decheng Capital LLC bought a new position in shares of Acelyrin in the 4th quarter worth $10,227,000. Finally, StemPoint Capital LP grew its position in Acelyrin by 21.7% in the 1st quarter. StemPoint Capital LP now owns 714,773 shares of the company’s stock valued at $4,825,000 after purchasing an additional 127,400 shares during the period. Institutional investors and hedge funds own 87.31% of the company’s stock.

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.