Millennium Management LLC Has $20.47 Million Position in Acelyrin, Inc. (NASDAQ:SLRN)

Millennium Management LLC increased its position in Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 15.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,642,056 shares of the company's stock after acquiring an additional 628,528 shares during the quarter. Millennium Management LLC owned about 4.69% of Acelyrin worth $20,471,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SLRN. Ameritas Investment Partners Inc. grew its holdings in Acelyrin by 118.0% in the 1st 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. grew its position in Acelyrin by 66.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 18,718 shares of the company's stock worth $126,000 after buying an additional 7,459 shares in the last quarter. ProShare Advisors LLC increased its stake in Acelyrin by 69.9% during the first 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 during the period. Principal Financial Group Inc. bought a new position in Acelyrin during the second quarter valued at about $49,000. Finally, SG Americas Securities LLC acquired a new position in Acelyrin in the 2nd quarter valued at approximately $51,000. Institutional investors own 87.31% of the company's stock.

Acelyrin Price Performance

Shares of NASDAQ:SLRN traded up $0.07 during trading on Friday, reaching $4.98. The stock had a trading volume of 290,923 shares, compared to its average volume of 965,758. The stock has a market capitalization of $497.05 million, a PE ratio of -2.09 and a beta of 2.33. Acelyrin, Inc. has a 52 week low of $3.36 and a 52 week high of $10.70. The business's 50-day moving average price is $4.90 and its 200 day moving average price is $5.03.

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 quarter in the previous year, the company posted ($0.56) earnings per share. Analysts forecast that Acelyrin, Inc. will post -3.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wells Fargo & Company upgraded Acelyrin from an "equal weight" rating to an "overweight" rating and set a $13.00 price objective on the stock in a research report on Monday, July 8th. Morgan Stanley dropped their price objective on shares of Acelyrin from $13.00 to $6.00 and set an "equal weight" rating for the company in a research note on Monday, August 19th. Piper Sandler reduced their price objective on shares of Acelyrin from $68.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, August 14th. Finally, HC Wainwright cut 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. 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, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.