Polar Asset Management Partners Inc. Sells 150,700 Shares of Acelyrin, Inc. (NASDAQ:SLRN)

Polar Asset Management Partners Inc. cut its position in Acelyrin, Inc. (NASDAQ:SLRN - Free Report) by 67.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,700 shares of the company's stock after selling 150,700 shares during the quarter. Polar Asset Management Partners Inc. owned about 0.07% of Acelyrin worth $353,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SLRN. Price T Rowe Associates Inc. MD bought a new position in Acelyrin during the first quarter worth about $140,000. SG Americas Securities LLC bought a new position in shares of Acelyrin during the 2nd quarter worth approximately $51,000. Nisa Investment Advisors LLC increased its holdings in shares of Acelyrin by 58,570.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,081 shares of the company's stock worth $62,000 after acquiring an additional 14,057 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Acelyrin by 22.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 223,395 shares of the company's stock worth $985,000 after acquiring an additional 41,058 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Acelyrin in the 2nd quarter valued at $49,000. 87.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on SLRN shares. Wells Fargo & Company lifted their price objective on shares of Acelyrin from $13.00 to $15.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. Piper Sandler cut their price objective on shares of Acelyrin from $68.00 to $20.00 and set an "overweight" rating for the company in a research report on Wednesday, August 14th. HC Wainwright upped their target price on Acelyrin from $6.00 to $8.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Finally, Morgan Stanley dropped 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Acelyrin presently has a consensus rating of "Hold" and an average price target of $11.40.

Acelyrin Trading Up 1.0 %

Shares of NASDAQ:SLRN traded up $0.04 on Friday, reaching $4.25. 470,294 shares of the company's stock were exchanged, compared to its average volume of 461,753. Acelyrin, Inc. has a twelve month low of $3.36 and a twelve month high of $8.89. The company has a fifty day moving average of $5.30 and a 200-day moving average of $5.01. The company has a market capitalization of $426.40 million, a price-to-earnings ratio of -1.73 and a beta of 1.61.

About Acelyrin

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.