Acelyrin (NASDAQ:SLRN) Stock Price Down 6.1%

Acelyrin, Inc. (NASDAQ:SLRN) fell 6.1% during mid-day trading on Monday . The company traded as low as $6.56 and last traded at $6.57. 121,429 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,088,777 shares. The stock had previously closed at $7.00.

Analyst Ratings Changes

A number of brokerages recently issued reports on SLRN. HC Wainwright boosted their price target on Acelyrin from $16.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Wells Fargo & Company upgraded Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a report on Monday, July 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.80.

Acelyrin Stock Down 2.4 %

The company has a market cap of $676.37 million, a P/E ratio of -2.77 and a beta of 2.55. The business’s 50 day moving average is $4.82 and its 200 day moving average is $5.99.

Acelyrin (NASDAQ:SLRN) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.57. As a group, equities research analysts forecast that Acelyrin, Inc. will post -3.33 EPS for the current year.

Hedge Funds Weigh In On Acelyrin

A number of large investors have recently made changes to their positions in SLRN. Ameritas Investment Partners Inc. increased its position 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 in the last quarter. SG Americas Securities LLC acquired a new position in shares of Acelyrin during the second quarter worth $51,000. Nisa Investment Advisors LLC increased its position 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Acelyrin by 608.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,716 shares of the company’s stock worth $80,000 after purchasing an additional 9,203 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Acelyrin during the fourth quarter worth $84,000. 87.31% of the stock is owned by institutional investors and hedge funds.

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.