Acelyrin (NASDAQ:SLRN - Free Report) had its price target cut by Citigroup from $6.00 to $3.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.
Other equities research analysts have also issued research reports about the company. HC Wainwright lowered their price objective on Acelyrin from $8.00 to $6.00 and set a "neutral" rating on the stock in a research report on Tuesday. Wells Fargo & Company reduced their target price on Acelyrin from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $9.60.
Read Our Latest Research Report on SLRN
Acelyrin Trading Down 37.0 %
Shares of SLRN traded down $1.29 during trading hours on Tuesday, reaching $2.20. 11,554,051 shares of the company traded hands, compared to its average volume of 3,894,528. The stock's fifty day moving average price is $4.39 and its 200 day moving average price is $4.89. The firm has a market cap of $220.72 million, a price-to-earnings ratio of -0.89 and a beta of 1.94. Acelyrin has a 12-month low of $1.91 and a 12-month high of $8.89.
Hedge Funds Weigh In On Acelyrin
A number of hedge funds have recently modified their holdings of the business. Franklin Resources Inc. grew its holdings in shares of Acelyrin by 36.9% during the 3rd quarter. Franklin Resources Inc. now owns 128,591 shares of the company's stock worth $634,000 after purchasing an additional 34,642 shares during the period. Virtu Financial LLC purchased a new position in shares of Acelyrin in the 3rd quarter valued at about $50,000. Barclays PLC boosted its stake in shares of Acelyrin by 208.8% in the 3rd quarter. Barclays PLC now owns 96,408 shares of the company's stock valued at $475,000 after buying an additional 65,188 shares during the period. Geode Capital Management LLC raised its position in shares of Acelyrin by 30.8% during 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 in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Acelyrin by 54.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 102,347 shares of the company's stock worth $505,000 after acquiring an additional 36,154 shares in the last quarter. 87.31% of the stock is currently owned by hedge funds and other institutional investors.
About Acelyrin
(
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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.
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