Charles Schwab Investment Management Inc. Acquires 273,604 Shares of Acelyrin, Inc. (NASDAQ:SLRN)

Charles Schwab Investment Management Inc. raised its holdings in shares of Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 81.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 609,678 shares of the company's stock after acquiring an additional 273,604 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.61% of Acelyrin worth $3,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Millennium Management LLC raised 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 boosted its stake in shares of Acelyrin by 3.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company's stock worth $12,904,000 after purchasing an additional 100,000 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Acelyrin by 218.0% during the 2nd quarter. Renaissance Technologies LLC now owns 397,618 shares of the company's stock worth $1,753,000 after purchasing an additional 272,600 shares during the period. Almitas Capital LLC purchased a new position in shares of Acelyrin during the 2nd quarter worth about $1,659,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Acelyrin by 22.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 223,395 shares of the company's stock worth $985,000 after purchasing an additional 41,058 shares during the period. Hedge funds and other institutional investors own 87.31% of the company's stock.

Analysts Set New Price Targets

SLRN has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a "neutral" rating and set a $8.00 price target on shares of Acelyrin in a research note on Wednesday. Morgan Stanley dropped 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 note on Monday, August 19th. Finally, Wells Fargo & Company dropped their price target on shares of Acelyrin from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday.

Acelyrin Price Performance

Acelyrin stock traded down $0.31 during trading hours on Friday, hitting $3.23. The company had a trading volume of 785,915 shares, compared to its average volume of 670,162. Acelyrin, Inc. has a 1 year low of $3.14 and a 1 year high of $8.89. The company has a 50-day moving average price of $5.17 and a two-hundred day moving average price of $5.00.

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.