Acelyrin, Inc. (NASDAQ:SLRN) Short Interest Update

Acelyrin, Inc. (NASDAQ:SLRN - Get Free Report) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 5,160,000 shares, a decrease of 19.2% from the September 30th total of 6,390,000 shares. Approximately 8.0% of the company's stock are sold short. Based on an average daily trading volume, of 1,010,000 shares, the short-interest ratio is currently 5.1 days.

Institutional Trading of Acelyrin

Several hedge funds have recently added to or reduced their stakes in SLRN. Ameritas Investment Partners Inc. lifted its position in shares of Acelyrin by 118.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company's stock valued at $49,000 after buying an additional 3,921 shares during the last quarter. Principal Financial Group Inc. bought a new position in Acelyrin during the second quarter worth about $49,000. SG Americas Securities LLC purchased a new position in shares of Acelyrin in the second quarter worth about $51,000. Nisa Investment Advisors LLC raised its position in shares of Acelyrin by 58,570.8% in the second quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company's stock valued at $62,000 after purchasing an additional 14,057 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Acelyrin by 65.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 19,196 shares of the company's stock valued at $95,000 after purchasing an additional 7,560 shares during the period. Institutional investors own 87.31% of the company's stock.

Acelyrin Price Performance

Shares of NASDAQ SLRN remained flat at $5.97 during midday trading on Friday. The stock had a trading volume of 318,292 shares, compared to its average volume of 1,064,310. The firm has a market cap of $591.19 million, a PE ratio of -2.51 and a beta of 2.33. The firm has a 50-day moving average price of $5.07 and a 200 day moving average price of $4.92. Acelyrin has a 12-month low of $3.36 and a 12-month high of $10.50.

Acelyrin (NASDAQ:SLRN - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same quarter in the previous year, the firm earned ($0.56) earnings per share. On average, equities analysts anticipate that Acelyrin will post -3.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SLRN has been the topic of several recent research reports. Morgan Stanley dropped their price target on shares of Acelyrin from $13.00 to $6.00 and set an "equal weight" rating on the stock in a research report on Monday, August 19th. HC Wainwright lowered Acelyrin from a "buy" rating to a "neutral" rating and dropped their target price for the company from $18.00 to $6.00 in a report on Wednesday, August 14th. Piper Sandler decreased their price target on Acelyrin from $68.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, August 14th. Finally, Wells Fargo & Company increased their price target on Acelyrin from $13.00 to $15.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Acelyrin presently has an average rating of "Moderate Buy" and an average target price of $11.17.

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.