Acelyrin (NASDAQ:SLRN) Stock Price Up 1.2% – Should You Buy?

Acelyrin, Inc. (NASDAQ:SLRN) rose 1.2% during trading on Wednesday . The company traded as high as $2.65 and last traded at $2.60. Approximately 2,398,586 shares were traded during trading, a decline of 16% from the average daily volume of 2,864,189 shares. The stock had previously closed at $2.57.

Wall Street Analysts Forecast Growth

SLRN has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price objective on Acelyrin from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, December 11th. Citigroup decreased their price objective on Acelyrin from $6.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, HC Wainwright cut their price objective on shares of Acelyrin from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Acelyrin has an average rating of “Hold” and an average target price of $9.60.

Acelyrin Price Performance

The business’s 50 day simple moving average is $2.39 and its 200-day simple moving average is $4.04. The stock has a market capitalization of $260.85 million, a P/E ratio of -1.06 and a beta of 1.86.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SLRN. XTX Topco Ltd acquired a new position in shares of Acelyrin in the fourth quarter valued at approximately $33,000. 4WEALTH Advisors Inc. acquired a new position in Acelyrin during the 4th quarter worth about $35,000. Hsbc Holdings PLC acquired a new stake in shares of Acelyrin during the fourth quarter worth $36,000. RPO LLC acquired a new stake in shares of Acelyrin during the 4th quarter worth approximately $46,000. Finally, HighTower Advisors LLC bought a new stake in Acelyrin in the third quarter valued at $50,000. Institutional investors own 87.31% of the company’s stock.

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.