Point72 Asset Management L.P. Reduces Position in Acelyrin, Inc. (NASDAQ:SLRN)

Point72 Asset Management L.P. lowered its position in shares of Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 83.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,542 shares of the company's stock after selling 185,958 shares during the period. Point72 Asset Management L.P.'s holdings in Acelyrin were worth $166,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Lighthouse Investment Partners LLC purchased a new position in Acelyrin during the fourth quarter valued at approximately $646,000. Superstring Capital Management LP bought a new position in shares of Acelyrin during the 4th quarter valued at approximately $2,663,000. Point72 Europe London LLP purchased a new position in shares of Acelyrin in the fourth quarter valued at $917,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Acelyrin by 66.2% in the 1st 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 during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Acelyrin during the 1st quarter valued at approximately $183,000. 87.31% of the stock is currently owned by hedge funds and other institutional investors.

Acelyrin Trading Up 1.4 %

Shares of SLRN traded up $0.07 during trading hours on Friday, hitting $4.98. The company had a trading volume of 290,923 shares, compared to its average volume of 965,758. The company has a market capitalization of $497.05 million, a PE ratio of -2.09 and a beta of 2.33. Acelyrin, Inc. has a one year low of $3.36 and a one year high of $10.70. The company's fifty day moving average price is $4.90 and its two-hundred day moving average price is $5.01.

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 analysts' consensus estimates of ($0.78) by ($0.08). During the same period in the previous year, the firm earned ($0.56) EPS. Analysts forecast that Acelyrin, Inc. will post -3.08 earnings per share for the current year.

Wall Street Analyst Weigh In

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