Acelyrin (NASDAQ:SLRN) Price Target Cut to $3.00 by Analysts at Citigroup

Acelyrin (NASDAQ:SLRN) had its price objective lowered by Citigroup from $6.00 to $3.00 in a research report released on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

SLRN has been the subject of several other research reports. HC Wainwright reduced their target price on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating for the company in a report on Tuesday. Wells Fargo & Company reduced their price objective on shares of Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Three 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, the company presently has a consensus rating of “Hold” and a consensus price target of $9.60.

Acelyrin Stock Down 2.7 %

NASDAQ:SLRN opened at $2.14 on Tuesday. The company has a market cap of $214.70 million, a P/E ratio of -0.87 and a beta of 1.94. Acelyrin has a twelve month low of $1.91 and a twelve month high of $8.89. The business has a 50 day moving average price of $4.16 and a two-hundred day moving average price of $4.84.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. acquired a new stake in Acelyrin in the 2nd quarter valued at about $49,000. HighTower Advisors LLC acquired a new stake in shares of Acelyrin in the third quarter valued at approximately $50,000. Virtu Financial LLC bought a new position in shares of Acelyrin during the 3rd quarter worth approximately $50,000. Intech Investment Management LLC acquired a new position in shares of Acelyrin during the 3rd quarter worth approximately $77,000. Finally, US Bancorp DE increased its holdings in shares of Acelyrin by 77.1% during the 3rd quarter. US Bancorp DE now owns 16,854 shares of the company’s stock worth $83,000 after acquiring an additional 7,336 shares during the last quarter. 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.