Acelyrin, Inc. (NASDAQ:SLRN) Receives $11.50 Consensus Price Target from Analysts

Acelyrin, Inc. (NASDAQ:SLRN - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $11.50.

Several equities research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Acelyrin from $13.00 to $15.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Morgan Stanley reduced their price target 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. HC Wainwright upped their price objective on shares of Acelyrin from $6.00 to $8.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Finally, Piper Sandler lowered their price target on shares of Acelyrin from $68.00 to $20.00 and set an "overweight" rating on the stock in a report on Wednesday, August 14th.

Acelyrin Price Performance

SLRN stock traded up $0.35 during trading hours on Friday, reaching $4.68. The stock had a trading volume of 281,027 shares, compared to its average volume of 1,013,054. The stock has a market capitalization of $469.53 million, a PE ratio of -1.87 and a beta of 1.98. The stock has a 50-day simple moving average of $5.38 and a 200 day simple moving average of $5.02. Acelyrin has a fifty-two week low of $3.36 and a fifty-two week high of $8.89.

Institutional Trading of Acelyrin

Hedge funds have recently modified their holdings of the company. Millennium Management LLC grew its position in shares of Acelyrin by 15.7% during the 2nd quarter. Millennium Management LLC now owns 4,642,056 shares of the company's stock worth $20,471,000 after buying an additional 628,528 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Acelyrin in the first quarter valued at about $3,961,000. Geode Capital Management LLC lifted its holdings in Acelyrin by 30.8% in the third quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company's stock valued at $8,144,000 after acquiring an additional 388,631 shares during the period. Almitas Capital LLC acquired a new position in shares of Acelyrin during the 2nd quarter worth approximately $1,659,000. Finally, Acuta Capital Partners LLC purchased a new stake in Acelyrin in the 3rd quarter valued at $1,795,000. 87.31% of the stock is owned by hedge funds and other institutional investors.

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.