Fmr LLC Sells 4,596,424 Shares of Acelyrin, Inc. (NASDAQ:SLRN)

Fmr LLC lowered its holdings in shares of Acelyrin, Inc. (NASDAQ:SLRN) by 97.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,748 shares of the company’s stock after selling 4,596,424 shares during the period. Fmr LLC owned approximately 0.12% of Acelyrin worth $580,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLRN. SG Americas Securities LLC bought a new stake in Acelyrin in the second quarter worth $51,000. Nisa Investment Advisors LLC grew its position in Acelyrin by 58,570.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company’s stock valued at $62,000 after purchasing an additional 14,057 shares during the last quarter. Bank of New York Mellon Corp increased its stake in 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 purchasing an additional 41,058 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Acelyrin in the second quarter worth about $49,000. Finally, Rhumbline Advisers lifted its stake in shares of Acelyrin by 25.3% in the second quarter. Rhumbline Advisers now owns 108,384 shares of the company’s stock worth $478,000 after buying an additional 21,859 shares in the last quarter. Hedge funds and other institutional investors own 87.31% of the company’s stock.

Acelyrin Price Performance

NASDAQ SLRN opened at $3.27 on Thursday. Acelyrin, Inc. has a 1-year low of $3.14 and a 1-year high of $8.89. The stock has a market capitalization of $328.07 million, a price-to-earnings ratio of -1.33 and a beta of 1.61. The business’s fifty day moving average price is $5.10 and its 200-day moving average price is $4.99.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. HC Wainwright reissued a “neutral” rating and set a $8.00 price target on shares of Acelyrin in a research report on Wednesday, December 11th. Wells Fargo & Company dropped their price objective on Acelyrin from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 11th.

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.