Renaissance Technologies LLC Has $1.75 Million Stake in Acelyrin, Inc. (NASDAQ:SLRN)

Renaissance Technologies LLC increased its holdings in Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 218.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 397,618 shares of the company's stock after purchasing an additional 272,600 shares during the period. Renaissance Technologies LLC owned approximately 0.40% of Acelyrin worth $1,753,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. raised its position in shares of 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 during the last quarter. China Universal Asset Management Co. Ltd. raised its position in 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. ProShare Advisors LLC grew its stake in Acelyrin by 69.9% during the first quarter. ProShare Advisors LLC now owns 19,871 shares of the company's stock worth $134,000 after buying an additional 8,176 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Acelyrin during the second quarter worth about $49,000. Finally, SG Americas Securities LLC bought a new stake in Acelyrin during the second quarter worth about $51,000. 87.31% of the stock is currently owned by institutional investors.

Acelyrin Stock Up 1.4 %

SLRN stock traded up $0.07 during midday trading on Friday, reaching $4.98. The company's stock had a trading volume of 290,913 shares, compared to its average volume of 1,096,875. Acelyrin, Inc. has a 52 week low of $3.36 and a 52 week high of $10.70. The stock has a market cap of $497.05 million, a PE ratio of -2.06 and a beta of 2.34. The business's 50-day simple moving average is $4.94 and its 200-day simple moving average is $5.07.

Acelyrin (NASDAQ:SLRN - Get Free Report) last posted its 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 in the prior year, the business posted ($0.56) EPS. As a group, equities analysts forecast that Acelyrin, Inc. will post -3.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SLRN has been the topic of several research analyst reports. Wells Fargo & Company raised shares of Acelyrin from an "equal weight" rating to an "overweight" rating and set a $13.00 price objective on the stock in a research note on Monday, July 8th. Morgan Stanley decreased 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 note on Monday, August 19th. HC Wainwright cut shares of Acelyrin from a "buy" rating to a "neutral" rating and decreased their price target for the company from $18.00 to $6.00 in a research note on Wednesday, August 14th. Finally, Piper Sandler decreased their price target on shares of Acelyrin from $68.00 to $20.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Acelyrin presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.83.

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.