Acelyrin (NASDAQ:SLRN) Trading 4.8% Higher on Analyst Upgrade

Acelyrin, Inc. (NASDAQ:SLRN - Get Free Report)'s stock price was up 4.8% during trading on Thursday after Wells Fargo & Company raised their price target on the stock from $13.00 to $15.00. Wells Fargo & Company currently has an overweight rating on the stock. Acelyrin traded as high as $6.37 and last traded at $6.37. Approximately 439,033 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 1,077,414 shares. The stock had previously closed at $6.08.

Several other analysts have also weighed in on SLRN. HC Wainwright lowered shares of Acelyrin from a "buy" rating to a "neutral" rating and lowered their target price for the company from $18.00 to $6.00 in a research note on Wednesday, August 14th. Piper Sandler lowered their price objective on shares of Acelyrin from $68.00 to $20.00 and set an "overweight" rating for the company in a research report on Wednesday, August 14th. Finally, Morgan Stanley cut their target price on shares of Acelyrin from $13.00 to $6.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Acelyrin currently has an average rating of "Moderate Buy" and a consensus price target of $11.17.

Hedge Funds Weigh In On Acelyrin

Several institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its stake in 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 purchasing an additional 3,921 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Acelyrin during the second quarter worth approximately $49,000. SG Americas Securities LLC bought a new position in Acelyrin in the 2nd quarter worth approximately $51,000. Nisa Investment Advisors LLC increased its position in Acelyrin by 58,570.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company's stock valued at $62,000 after acquiring an additional 14,057 shares during the period. Finally, ProShare Advisors LLC raised its stake in Acelyrin by 69.9% during the 1st quarter. ProShare Advisors LLC now owns 19,871 shares of the company's stock valued at $134,000 after acquiring an additional 8,176 shares in the last quarter. Institutional investors own 87.31% of the company's stock.

Acelyrin Stock Up 6.6 %

The company has a market cap of $646.77 million, a P/E ratio of -2.24 and a beta of 2.33. The company has a 50 day moving average price of $4.84 and a 200-day moving average price of $4.93.

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 analysts' consensus estimates of ($0.78) by ($0.08). During the same quarter in the previous year, the company posted ($0.56) EPS. On average, research analysts expect that Acelyrin, Inc. will post -3.08 earnings per share for the current fiscal year.

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.