Acelyrin (NASDAQ:SLRN) PT Raised to $15.00 at Wells Fargo & Company

Acelyrin (NASDAQ:SLRN) had its price objective hoisted by Wells Fargo & Company from $13.00 to $15.00 in a research report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Piper Sandler dropped their price objective on Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Morgan Stanley cut their price target on shares of 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 shares of Acelyrin from a “buy” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $6.00 in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.17.

Acelyrin Stock Down 4.3 %

NASDAQ:SLRN opened at $6.20 on Wednesday. Acelyrin has a twelve month low of $3.36 and a twelve month high of $10.70. The company has a market cap of $618.82 million, a P/E ratio of -2.18 and a beta of 2.33. The business has a 50 day moving average price of $4.89 and a two-hundred day moving average price of $4.93.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same period in the previous year, the company earned ($0.56) EPS. As a group, analysts anticipate that Acelyrin will post -3.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acelyrin

Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its stake in shares of Acelyrin by 118.0% during the first quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock worth $49,000 after purchasing an additional 3,921 shares during the period. Principal Financial Group Inc. bought a new stake in Acelyrin in the 2nd quarter valued at about $49,000. SG Americas Securities LLC acquired a new position in shares of Acelyrin during the 2nd quarter worth approximately $51,000. Nisa Investment Advisors LLC increased its holdings in shares of Acelyrin by 58,570.8% during the second quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock worth $62,000 after purchasing an additional 14,057 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Acelyrin by 16.3% in the second quarter. The Manufacturers Life Insurance Company now owns 29,769 shares of the company’s stock valued at $131,000 after buying an additional 4,163 shares in the last quarter. 87.31% of the stock is currently owned by institutional investors and hedge funds.

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.