Acelyrin (NASDAQ:SLRN) Trading Down 6.9% - What's Next?

Shares of Acelyrin, Inc. (NASDAQ:SLRN - Get Free Report) fell 6.9% on Friday . The stock traded as low as $6.01 and last traded at $6.03. 164,354 shares traded hands during trading, a decline of 85% from the average session volume of 1,074,913 shares. The stock had previously closed at $6.48.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SLRN shares. Piper Sandler reduced their price target 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. Wells Fargo & Company raised their target price on shares of Acelyrin from $13.00 to $15.00 and gave the stock an "overweight" rating in a report on Wednesday. HC Wainwright lowered 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 report on Wednesday, August 14th. Finally, Morgan Stanley cut their price target on Acelyrin from $13.00 to $6.00 and set an "equal weight" rating on the stock in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Acelyrin has an average rating of "Moderate Buy" and an average target price of $11.17.

Acelyrin Price Performance

The stock has a fifty day moving average price of $4.87 and a two-hundred day moving average price of $4.94. The company has a market cap of $618.82 million, a P/E ratio of -2.18 and a beta of 2.33.

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 business posted ($0.56) earnings per share. As a group, analysts forecast that Acelyrin, Inc. will post -3.08 earnings per share for the current year.

Institutional Trading of Acelyrin

A number of institutional investors have recently made changes to their positions in SLRN. Ameritas Investment Partners Inc. boosted its stake in Acelyrin by 118.0% during the first 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 in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Acelyrin by 16.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,769 shares of the company's stock worth $131,000 after purchasing an additional 4,163 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Acelyrin by 69.9% in the 1st 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. Principal Financial Group Inc. bought a new stake in Acelyrin during the second quarter worth approximately $49,000. Finally, SG Americas Securities LLC acquired a new position in Acelyrin in the second quarter worth approximately $51,000. 87.31% of the stock is owned by institutional investors and hedge funds.

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.