Acelyrin, Inc. (NASDAQ:SLRN) Receives Consensus Rating of "Moderate Buy" from Brokerages

Acelyrin, Inc. (NASDAQ:SLRN - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $10.83.

Several equities research analysts recently weighed in on SLRN shares. HC Wainwright downgraded shares of Acelyrin from a "buy" rating to a "neutral" rating and reduced their price target for the company from $18.00 to $6.00 in a research report on Wednesday, August 14th. Morgan Stanley decreased their price target on Acelyrin from $13.00 to $6.00 and set an "equal weight" rating for the company in a research note on Monday, August 19th. Piper Sandler dropped their price objective on Acelyrin from $68.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company raised Acelyrin from an "equal weight" rating to an "overweight" rating and set a $13.00 target price for the company in a research report on Monday, July 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SLRN. Millennium Management LLC boosted its holdings in shares of Acelyrin by 15.7% in the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company's stock worth $20,471,000 after buying an additional 628,528 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Acelyrin during the 1st quarter valued at about $3,961,000. Almitas Capital LLC bought a new position in shares of Acelyrin during the 2nd quarter valued at approximately $1,659,000. Superstring Capital Management LP bought a new position in shares of Acelyrin during the 4th quarter valued at approximately $2,663,000. Finally, Sectoral Asset Management Inc. purchased a new stake in Acelyrin in the 4th quarter worth approximately $2,429,000. 87.31% of the stock is owned by hedge funds and other institutional investors.

Acelyrin Trading Down 3.5 %

Acelyrin stock traded down $0.18 during mid-day trading on Thursday, hitting $4.91. The company had a trading volume of 422,103 shares, compared to its average volume of 1,101,095. Acelyrin has a 12 month low of $3.36 and a 12 month high of $10.70. The company has a market capitalization of $490.07 million, a PE ratio of -2.06 and a beta of 2.34. The stock's 50 day moving average price is $4.94 and its two-hundred day moving average price is $5.07.

Acelyrin (NASDAQ:SLRN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.08). During the same period in the prior year, the company posted ($0.56) EPS. Equities research analysts anticipate that Acelyrin will post -3.08 EPS for the current year.

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.