General Atlantic L.P. Trims Stock Holdings in Acelyrin, Inc. (NASDAQ:SLRN)

General Atlantic L.P. decreased its stake in shares of Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,695,327 shares of the company's stock after selling 194,341 shares during the quarter. Acelyrin comprises about 0.3% of General Atlantic L.P.'s investment portfolio, making the stock its 13th biggest holding. General Atlantic L.P. owned about 2.69% of Acelyrin worth $8,463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SLRN. HighTower Advisors LLC bought a new position in shares of Acelyrin during the third quarter valued at $50,000. Virtu Financial LLC purchased a new stake in Acelyrin during the 3rd quarter valued at about $50,000. Intech Investment Management LLC bought a new position in shares of Acelyrin in the third quarter worth approximately $77,000. US Bancorp DE increased its position in shares of Acelyrin by 77.1% during the third quarter. US Bancorp DE now owns 16,854 shares of the company's stock valued at $83,000 after acquiring an additional 7,336 shares in the last quarter. Finally, Virtus Investment Advisers Inc. bought a new stake in shares of Acelyrin in the 3rd quarter worth $176,000. 87.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on SLRN shares. Wells Fargo & Company decreased their target price on Acelyrin from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, December 11th. Citigroup decreased their price objective on shares of Acelyrin from $6.00 to $3.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, HC Wainwright dropped their target price on shares of Acelyrin from $8.00 to $6.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $9.60.

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Acelyrin Stock Performance

Shares of NASDAQ SLRN traded down $0.06 during midday trading on Thursday, hitting $2.69. 970,812 shares of the company's stock traded hands, compared to its average volume of 1,260,448. The firm has a fifty day moving average of $2.27 and a 200 day moving average of $3.91. Acelyrin, Inc. has a 1 year low of $1.85 and a 1 year high of $8.59. The stock has a market capitalization of $269.88 million, a price-to-earnings ratio of -1.09 and a beta of 1.27.

Acelyrin 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.