HC Wainwright Lowers Acelyrin (NASDAQ:SLRN) Price Target to $6.00

Acelyrin (NASDAQ:SLRN - Get Free Report) had its price target reduced by equities researchers at HC Wainwright from $8.00 to $6.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. HC Wainwright's price objective points to a potential upside of 172.73% from the company's previous close.

Separately, Wells Fargo & Company lowered their target price on Acelyrin from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $9.60.

Acelyrin Price Performance

Shares of NASDAQ SLRN traded down $1.29 during mid-day trading on Tuesday, hitting $2.20. The company had a trading volume of 11,554,051 shares, compared to its average volume of 3,894,528. Acelyrin has a 12 month low of $1.91 and a 12 month high of $8.89. The stock has a market cap of $220.72 million, a price-to-earnings ratio of -0.89 and a beta of 1.94. The firm's 50 day simple moving average is $4.39 and its two-hundred day simple moving average is $4.89.

Hedge Funds Weigh In On Acelyrin

Several hedge funds have recently modified their holdings of the company. Millennium Management LLC increased 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 valued at $20,471,000 after purchasing an additional 628,528 shares during the period. Blue Owl Capital Holdings LP grew its holdings in shares of Acelyrin by 3.5% in the 2nd quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company's stock worth $12,904,000 after acquiring an additional 100,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Acelyrin by 30.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,651,614 shares of the company's stock worth $8,144,000 after acquiring an additional 388,631 shares during the last quarter. State Street Corp grew its holdings in shares of Acelyrin by 10.0% in the 3rd quarter. State Street Corp now owns 1,273,096 shares of the company's stock worth $6,276,000 after acquiring an additional 116,094 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Acelyrin by 81.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 609,678 shares of the company's stock worth $3,006,000 after acquiring an additional 273,604 shares during the last quarter. 87.31% of the stock is currently owned by institutional investors and hedge funds.

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.