Acelyrin’s (SLRN) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Acelyrin (NASDAQ:SLRN) in a research report released on Wednesday,Benzinga reports. HC Wainwright currently has a $8.00 target price on the stock.

SLRN has been the subject of a number of other research reports. Wells Fargo & Company lifted their target price 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 reduced their target price on Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Finally, Morgan Stanley lowered their target price on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating on the stock in a report on Monday, August 19th.

Acelyrin Stock Performance

Acelyrin stock opened at $3.23 on Wednesday. The firm has a market capitalization of $324.07 million, a price-to-earnings ratio of -1.31 and a beta of 1.61. Acelyrin has a fifty-two week low of $3.14 and a fifty-two week high of $8.89. The stock’s fifty day moving average is $5.21 and its two-hundred day moving average is $5.00.

Hedge Funds Weigh In On Acelyrin

Several institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new position in Acelyrin in the 1st quarter valued at $140,000. SG Americas Securities LLC acquired a new position in shares of Acelyrin during the 2nd quarter valued at about $51,000. Nisa Investment Advisors LLC boosted its position in shares of Acelyrin by 58,570.8% in the second 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 grew its holdings in Acelyrin by 22.5% in the second quarter. Bank of New York Mellon Corp now owns 223,395 shares of the company’s stock valued at $985,000 after purchasing an additional 41,058 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in Acelyrin during the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 87.31% of the company’s stock.

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.