Acelyrin (NASDAQ:SLRN) Shares Up 5.9% – Time to Buy?

Acelyrin, Inc. (NASDAQ:SLRNGet Free Report)’s share price shot up 5.9% during trading on Thursday . The stock traded as high as $5.05 and last traded at $5.02. 131,182 shares changed hands during trading, a decline of 88% from the average session volume of 1,079,416 shares. The stock had previously closed at $4.74.

Analyst Upgrades and Downgrades

Several research firms have commented on SLRN. Piper Sandler lowered their target price on shares of Acelyrin from $68.00 to $20.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Morgan Stanley reduced their price objective on shares of Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. HC Wainwright lowered shares of Acelyrin from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $18.00 to $6.00 in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company upgraded shares of Acelyrin from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective for the company in a research report on Monday, July 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Acelyrin presently has an average rating of “Moderate Buy” and an average target price of $10.83.

Get Our Latest Research Report on SLRN

Acelyrin Price Performance

The firm’s fifty day simple moving average is $4.80 and its 200 day simple moving average is $4.97. The company has a market capitalization of $527.99 million, a price-to-earnings ratio of -2.12 and a beta of 2.33.

Acelyrin (NASDAQ:SLRNGet Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same period in the prior year, the business posted ($0.56) EPS. Equities research analysts forecast that Acelyrin, Inc. will post -3.08 earnings per share for the current fiscal year.

Institutional Trading of Acelyrin

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its position in shares of Acelyrin by 129.6% in the third quarter. SG Americas Securities LLC now owns 26,755 shares of the company’s stock worth $132,000 after purchasing an additional 15,101 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in Acelyrin by 158.1% during the second quarter. Cubist Systematic Strategies LLC now owns 90,022 shares of the company’s stock valued at $397,000 after acquiring an additional 55,141 shares in the last quarter. Almitas Capital LLC bought a new position in Acelyrin during the second quarter valued at approximately $1,659,000. Susquehanna Fundamental Investments LLC bought a new position in Acelyrin during the second quarter valued at approximately $706,000. Finally, Blue Owl Capital Holdings LP raised its position in Acelyrin by 3.5% during the second quarter. Blue Owl Capital Holdings LP now owns 2,926,028 shares of the company’s stock valued at $12,904,000 after acquiring an additional 100,000 shares in the last quarter. 87.31% of the stock is owned by hedge funds and other institutional investors.

Acelyrin Company Profile

(Get Free Report)

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.

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