Point72 Asset Management L.P. Has $1.23 Million Position in Acelyrin, Inc. (NASDAQ:SLRN)

Point72 Asset Management L.P. lifted its stake in shares of Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 566.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,300 shares of the company's stock after acquiring an additional 212,758 shares during the quarter. Point72 Asset Management L.P. owned 0.25% of Acelyrin worth $1,234,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SLRN. Millennium Management LLC increased its position in Acelyrin by 15.7% during the second quarter. Millennium Management LLC now owns 4,642,056 shares of the company's stock worth $20,471,000 after buying an additional 628,528 shares during the last quarter. Blue Owl Capital Holdings LP boosted its holdings in shares of Acelyrin by 3.5% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company's stock worth $12,904,000 after buying an additional 100,000 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Acelyrin by 81.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 609,678 shares of the company's stock worth $3,006,000 after acquiring an additional 273,604 shares during the period. Renaissance Technologies LLC boosted its holdings in Acelyrin by 218.0% during the second quarter. Renaissance Technologies LLC now owns 397,618 shares of the company's stock valued at $1,753,000 after acquiring an additional 272,600 shares during the period. Finally, Almitas Capital LLC bought a new position in shares of Acelyrin in the second quarter worth about $1,659,000. 87.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on SLRN shares. HC Wainwright reiterated a "neutral" rating and set a $8.00 price target on shares of Acelyrin in a report on Wednesday. Wells Fargo & Company cut their price objective on shares of Acelyrin from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday. Piper Sandler decreased their target price on Acelyrin from $68.00 to $20.00 and set an "overweight" rating on the stock in a research 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 for the company in a report on Monday, August 19th.

Acelyrin Trading Down 11.6 %

Acelyrin stock traded down $0.47 during mid-day trading on Wednesday, hitting $3.59. The stock had a trading volume of 2,051,460 shares, compared to its average volume of 995,439. The stock has a market capitalization of $360.18 million, a PE ratio of -1.35 and a beta of 1.63. The stock has a 50-day simple moving average of $5.29 and a two-hundred day simple moving average of $5.02. Acelyrin, Inc. has a 12 month low of $3.18 and a 12 month high of $8.89.

Acelyrin 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.