Acelyrin (NASDAQ:SLRN) Stock Price Down 2.4% - Should You Sell?

Shares of Acelyrin, Inc. (NASDAQ:SLRN - Get Free Report) dropped 2.4% on Friday . The company traded as low as $5.26 and last traded at $5.32. Approximately 279,175 shares traded hands during trading, a decline of 74% from the average daily volume of 1,079,955 shares. The stock had previously closed at $5.45.

Analysts Set New Price Targets

SLRN has been the subject of a number of recent research reports. HC Wainwright downgraded Acelyrin from a "buy" rating to a "neutral" rating and cut their price objective for the company from $18.00 to $6.00 in a research note on Wednesday, August 14th. Piper Sandler decreased 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. Morgan Stanley dropped their target price on shares of Acelyrin from $13.00 to $6.00 and set an "equal weight" rating for the company in a report on Monday, August 19th. Finally, Wells Fargo & Company upgraded Acelyrin from an "equal weight" rating to an "overweight" rating and set a $13.00 price target for the company in a research note on Monday, July 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.83.

Acelyrin Stock Down 1.1 %

The company's 50 day moving average is $4.80 and its two-hundred day moving average is $4.97. The company has a market capitalization of $537.98 million, a PE ratio of -1.86 and a beta of 2.33.

Acelyrin (NASDAQ:SLRN - Get Free Report) last issued its quarterly earnings data 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 period last year, the firm earned ($0.56) earnings per share. Analysts forecast that Acelyrin, Inc. will post -3.08 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SLRN. Vanguard Group Inc. boosted its holdings in shares of Acelyrin by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 6,237,543 shares of the company's stock worth $42,103,000 after purchasing an additional 81,633 shares during the period. Millennium Management LLC lifted its holdings in shares of Acelyrin by 15.7% in the 2nd quarter. Millennium Management LLC now owns 4,642,056 shares of the company's stock worth $20,471,000 after acquiring an additional 628,528 shares during the last quarter. Blue Owl Capital Holdings LP grew its holdings in Acelyrin by 3.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company's stock valued at $12,904,000 after purchasing an additional 100,000 shares during the last quarter. StemPoint Capital LP raised its position in Acelyrin by 21.7% in the 1st quarter. StemPoint Capital LP now owns 714,773 shares of the company's stock worth $4,825,000 after purchasing an additional 127,400 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Acelyrin in the first quarter worth about $3,961,000. Institutional investors own 87.31% of the company's stock.

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.