Geode Capital Management LLC Grows Stock Position in Acelyrin, Inc. (NASDAQ:SLRN)

Geode Capital Management LLC increased its holdings in Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 30.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,651,614 shares of the company's stock after purchasing an additional 388,631 shares during the quarter. Geode Capital Management LLC owned 1.65% of Acelyrin worth $8,144,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SLRN. Principal Financial Group Inc. acquired a new position in Acelyrin in the 2nd quarter valued at $49,000. HighTower Advisors LLC acquired a new stake in shares of Acelyrin in the third quarter valued at about $50,000. Intech Investment Management LLC purchased a new position in shares of Acelyrin in the third quarter worth about $77,000. US Bancorp DE grew its stake in Acelyrin by 77.1% during the 3rd 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, China Universal Asset Management Co. Ltd. raised its holdings in Acelyrin by 65.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,196 shares of the company's stock valued at $95,000 after acquiring an additional 7,560 shares during the last quarter. Hedge funds and other institutional investors own 87.31% of the company's stock.

Acelyrin Stock Performance

Shares of NASDAQ SLRN traded up $0.52 during trading on Friday, reaching $3.82. The stock had a trading volume of 1,458,693 shares, compared to its average volume of 963,947. The company has a market cap of $383.25 million, a P/E ratio of -1.55 and a beta of 1.63. The business's 50-day moving average price is $4.45 and its 200-day moving average price is $4.89. Acelyrin, Inc. has a fifty-two week low of $3.05 and a fifty-two week high of $8.89.

Wall Street Analyst Weigh In

SLRN has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on Acelyrin from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 11th. HC Wainwright reaffirmed a "neutral" rating and issued a $8.00 target price on shares of Acelyrin in a research report on Wednesday, December 11th.

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.