Acelyrin (NASDAQ:SLRN) Shares Up 5.9% - Still a Buy?

Acelyrin, Inc. (NASDAQ:SLRN - Get Free Report) rose 5.9% during mid-day trading on Thursday . The stock traded as high as $5.05 and last traded at $5.02. Approximately 131,182 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,079,416 shares. The stock had previously closed at $4.74.

Analysts Set New Price Targets

SLRN has been the topic of several analyst reports. Wells Fargo & Company upgraded shares of Acelyrin from an "equal weight" rating to an "overweight" rating and set a $13.00 target price on the stock in a research note on Monday, July 8th. Morgan Stanley lowered their price objective 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. Piper Sandler lowered their price objective on shares of Acelyrin from $68.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 14th. Finally, HC Wainwright downgraded shares of Acelyrin from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $18.00 to $6.00 in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Acelyrin presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.83.

Acelyrin Price Performance

The company has a market cap of $543.96 million, a P/E ratio of -2.29 and a beta of 2.33. The stock's 50-day moving average is $4.80 and its two-hundred day moving average is $4.97.

Acelyrin (NASDAQ:SLRN - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same period last year, the company posted ($0.56) EPS. On average, analysts predict that Acelyrin, Inc. will post -3.08 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SLRN. Point72 Europe London LLP bought a new position in Acelyrin in the fourth quarter worth approximately $917,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Acelyrin by 66.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company's stock worth $126,000 after purchasing an additional 7,459 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Acelyrin in the first quarter worth $183,000. ProShare Advisors LLC increased its stake in shares of Acelyrin by 69.9% in the first quarter. ProShare Advisors LLC now owns 19,871 shares of the company's stock worth $134,000 after purchasing an additional 8,176 shares in the last quarter. Finally, Blair William & Co. IL purchased a new stake in shares of Acelyrin in the first quarter worth $936,000. 87.31% of the stock is currently owned by institutional investors.

Acelyrin Company 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.