Acuta Capital Partners LLC Makes New Investment in Acelyrin, Inc. (NASDAQ:SLRN)

Acuta Capital Partners LLC bought a new stake in shares of Acelyrin, Inc. (NASDAQ:SLRN - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 364,000 shares of the company's stock, valued at approximately $1,795,000. Acelyrin accounts for approximately 1.5% of Acuta Capital Partners LLC's investment portfolio, making the stock its 21st biggest holding. Acuta Capital Partners LLC owned about 0.36% of Acelyrin at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLRN. Principal Financial Group Inc. bought a new stake in shares of Acelyrin in the second quarter valued at approximately $49,000. SG Americas Securities LLC bought a new stake in Acelyrin in the 2nd quarter valued at $51,000. Nisa Investment Advisors LLC grew its position in Acelyrin by 58,570.8% in the 2nd 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 last quarter. Intech Investment Management LLC bought a new position in Acelyrin in the third quarter worth $77,000. Finally, US Bancorp DE increased its holdings in Acelyrin by 77.1% in the 3rd quarter. US Bancorp DE now owns 16,854 shares of the company's stock valued at $83,000 after buying an additional 7,336 shares during the period. Institutional investors and hedge funds own 87.31% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SLRN. HC Wainwright upped their target price on shares of Acelyrin from $6.00 to $8.00 and gave the company a "neutral" rating in a research note on Thursday, November 14th. Piper Sandler cut their price target on Acelyrin from $68.00 to $20.00 and set an "overweight" rating for the company in a 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 on the stock in a report on Monday, August 19th. Finally, Wells Fargo & Company raised their price target on shares of Acelyrin from $13.00 to $15.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $11.50.

Acelyrin Trading Down 1.5 %

Shares of NASDAQ:SLRN traded down $0.07 during mid-day trading on Thursday, reaching $4.57. The stock had a trading volume of 427,803 shares, compared to its average volume of 1,007,611. The firm has a market cap of $458.51 million, a PE ratio of -1.86 and a beta of 1.98. The firm has a 50 day simple moving average of $5.39 and a two-hundred day simple moving average of $5.03. Acelyrin, Inc. has a twelve month low of $3.36 and a twelve month high of $8.89.

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.