HC Wainwright Issues Positive Forecast for Acelyrin (NASDAQ:SLRN) Stock Price

Acelyrin (NASDAQ:SLRN) had its price target increased by HC Wainwright from $6.00 to $8.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms also recently commented on SLRN. Wells Fargo & Company lifted their price target on Acelyrin from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Morgan Stanley decreased their price target on Acelyrin from $13.00 to $6.00 and set an “equal weight” rating for the company in a research note on Monday, August 19th. Finally, Piper Sandler decreased their price target on Acelyrin from $68.00 to $20.00 and set an “overweight” rating for the company in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.50.

Acelyrin Stock Performance

Shares of SLRN traded down $0.54 during trading hours on Thursday, hitting $4.62. The stock had a trading volume of 399,965 shares, compared to its average volume of 1,025,454. The firm has a market cap of $461.12 million, a P/E ratio of -1.90 and a beta of 1.98. The company’s fifty day simple moving average is $5.40 and its 200 day simple moving average is $5.01. Acelyrin has a 12-month low of $3.36 and a 12-month high of $9.20.

Acelyrin (NASDAQ:SLRN) last issued its earnings results on Tuesday, August 13th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.08). During the same period last year, the firm earned ($0.56) earnings per share. As a group, sell-side analysts predict that Acelyrin will post -3.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Acelyrin

A number of hedge funds have recently made changes to their positions in the business. Ameritas Investment Partners Inc. raised its holdings in shares of Acelyrin by 118.0% during the first quarter. Ameritas Investment Partners Inc. now owns 7,243 shares of the company’s stock valued at $49,000 after buying an additional 3,921 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Acelyrin by 16.3% during the second quarter. The Manufacturers Life Insurance Company now owns 29,769 shares of the company’s stock valued at $131,000 after buying an additional 4,163 shares during the last quarter. US Bancorp DE raised its holdings in shares of Acelyrin by 77.1% during the third quarter. US Bancorp DE now owns 16,854 shares of the company’s stock valued at $83,000 after buying an additional 7,336 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Acelyrin by 65.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 19,196 shares of the company’s stock valued at $95,000 after buying an additional 7,560 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Acelyrin by 69.9% during the first quarter. ProShare Advisors LLC now owns 19,871 shares of the company’s stock valued at $134,000 after buying an additional 8,176 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.