Acelyrin, Inc. (NASDAQ:SLRN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in shares of Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 67.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 850,661 shares of the company's stock after selling 1,747,642 shares during the quarter. JPMorgan Chase & Co. owned about 0.85% of Acelyrin worth $4,194,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC acquired a new position in shares of Acelyrin during the third quarter valued at about $50,000. Virtu Financial LLC purchased a new position in shares of Acelyrin in the third quarter worth $50,000. Intech Investment Management LLC acquired a new stake in shares of Acelyrin during the third quarter worth $77,000. US Bancorp DE grew its holdings in shares of Acelyrin by 77.1% during the third quarter. US Bancorp DE now owns 16,854 shares of the company's stock valued at $83,000 after buying an additional 7,336 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of 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 period. 87.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Acelyrin from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, December 11th. HC Wainwright decreased their price objective on Acelyrin from $8.00 to $6.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Citigroup decreased their price target on Acelyrin from $6.00 to $3.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $9.60.

Acelyrin Stock Performance

Shares of SLRN stock remained flat at $1.99 during mid-day trading on Friday. 766,121 shares of the stock traded hands, compared to its average volume of 1,397,281. Acelyrin, Inc. has a twelve month low of $1.91 and a twelve month high of $8.89. The stock's 50-day moving average price is $3.70 and its two-hundred day moving average price is $4.76. The company has a market capitalization of $199.66 million, a P/E ratio of -0.81 and a beta of 1.94.

Acelyrin 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.