Acelyrin, Inc. (NASDAQ:SLRN) Sees Significant Decrease in Short Interest

Acelyrin, Inc. (NASDAQ:SLRN) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 6,090,000 shares, a decrease of 15.4% from the August 31st total of 7,200,000 shares. Currently, 9.5% of the company’s shares are sold short. Based on an average daily trading volume, of 1,190,000 shares, the short-interest ratio is currently 5.1 days.

Acelyrin Stock Up 1.0 %

NASDAQ:SLRN opened at $4.93 on Monday. Acelyrin has a twelve month low of $3.36 and a twelve month high of $10.70. The company has a fifty day moving average of $5.08 and a 200-day moving average of $5.13. The firm has a market capitalization of $492.06 million, a P/E ratio of -2.07 and a beta of 2.34.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLRN. Millennium Management LLC raised its position in shares of Acelyrin by 15.7% during the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company’s stock worth $20,471,000 after purchasing an additional 628,528 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in Acelyrin during the first quarter worth $3,961,000. Almitas Capital LLC acquired a new position in Acelyrin during the second quarter worth $1,659,000. Superstring Capital Management LP bought a new position in shares of Acelyrin in the fourth quarter valued at $2,663,000. Finally, Sectoral Asset Management Inc. acquired a new position in shares of Acelyrin during the fourth quarter valued at about $2,429,000. Institutional investors own 87.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wells Fargo & Company raised 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 dropped 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 decreased their price objective on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Finally, HC Wainwright lowered 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Acelyrin currently has a consensus rating of “Moderate Buy” and an average price target of $10.83.

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.